British scale-up Bumper, a number one Purchase Now, Pay Later (BNPL) platform for automotive servicing and repairs, has raised a Sequence B extension €9.4 million in fairness funding to scale its service for drivers throughout Europe, whereas increasing its providing to sellers and OEMs by means of current acquisitions and new product launches.
The spherical was led by Autotech Ventures, with sturdy assist from automotive and mobility buyers together with Jaguar Land Rover’s InMotion Ventures, Suzuki International Ventures, Porsche Ventures and Shell Ventures.
“A sudden restore invoice can hit households onerous,” mentioned James Jackson, Co-founder and CEO of Bumper. “We created Bumper to offer folks management, flexibility and peace of thoughts when the surprising occurs. Over 1.5 million drivers have now used our platform to maintain their automobiles on the highway with out breaking the financial institution.”
Based in 2013, Bumper was constructed to deal with one of many largest ache factors in motoring: surprising restore payments. Whether or not it’s a failed MOT or accident harm, many drivers face payments of €500 or extra with no warning. Bumper lets prospects break up these prices into manageable, interest-free funds immediately by means of their dealership or storage.
Bumper is reside in over 5,000 dealerships and garages and works with most of the world’s largest automotive manufacturers together with Volkswagen, Ford, Nissan, Volvo, Seat, Audi, Skoda, Jaguar Land Rover and Porsche.
“We’re constructing out from our client BNPL roots right into a full-stack platform for automotive retail,” added Jackson. “By proudly owning extra of the funds stack and delivering software program options to sellers, we will enhance margins, simplify operations and assist the way forward for mobility retail.”
The corporate is now reportedly operationally worthwhile, and on observe to exceed €1 billion in GMV in 2025, up from €348 million final 12 months.
The announcement comes as Bumper marks its tenth anniversary with a refreshed model id and newly launched web site.
Kaihei Takagi, Director of Suzuki International Ventures mentioned: “We’re very excited to proceed supporting Bumper’s development, following our preliminary funding, on this Sequence B extension. Because of Bumper’s proactive M&A development technique, now we have been capable of have interaction in broader strategic discussions past simply BNPL, together with areas of potential collaboration with Suzuki Motor Company. We sit up for deepening these strategic conversations and supporting Bumper’s continued enlargement throughout Europe, Japan and different areas.”
Whereas BNPL stays the core of Bumper’s client proposition, the corporate is increasing into adjoining fee and software program providers by means of a focused M&A technique:
- In October 2024, Bumper acquired AutoBI, a real-time enterprise intelligence platform for automotive retailers and OEMs.
- In Might this 12 months, this was adopted by the acquisition of Cocoon Funds, a white-label answer to assist dealerships streamline digital fee processes.
These acquisitions underpin the launch of Bumper Professional, a brand new suite of B2B instruments for dealerships and OEMs. Bumper Professional allegedly helps automotive retailers scale back card transaction charges, automate workflows, and acquire clearer visibility into gross sales and aftersales efficiency – constructing on Bumper’s funds infrastructure and deep trade integrations.
Tony Rimas, Enterprise Companion of Autotech Ventures, mentioned: “We first invested in Bumper in 2021, attracted by its trade BNPL product and penetration within the UK seller sector. Since then now we have been impressed by its exceptional income development within the UK and throughout Europe, its expanded portfolio of fee options and the group’s means to execute on its bold plans.
“We’re delighted to assist the subsequent section of Bumper’s development and are significantly excited by the alternatives introduced by its acquisition of AutoBI and Cocoon Funds and the rollout of the game-changing Bumper Professional platform.”
