London-based Bumper, a leading provider of Buy Now Pay Later services for car repairs and services, has successfully raised an additional €2.33M in its Series B extension round. This round saw contributions from Suzuki Motor Corporation through its corporate VC fund, Suzuki Global Ventures, and Tokyo-based Marubeni Ventures.
Suzuki Motor Corporation expressed its aim to enhance customer convenience by expanding Bumper’s services. James Jackson, CEO and co-founder of Bumper, shared his excitement about the partnership, stating, “We’re thrilled to be partnering with these industry leaders and bringing our platform to even more Suzuki Europe and Marubeni dealers across all our European markets.”
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Record Growth and Expanding Services
Earlier in the year, the startup raised €46M in a combined equity and debt financing Series B round. Founded in 2013 by James Jackson and Jack Allman, the FinTech offers drivers a flexible solution to spread the cost of car repairs into interest-free installments. Headquartered in Sheffield, with offices in London and Ankara, Bumper collaborates with major automotive brands like Volvo, Ford, Nissan, VW Group, JLR, and Porsche, providing both digital and physical payment options.
In January 2024, the company reported record growth, with a 100% year-on-year increase in Gross Merchandise Value (GMV) and an 80% rise in customer numbers over the past 12 months. Operating through 5,000 dealers, Bumper has facilitated flexible payments for over 250,000 repairs in the last year alone, with ambitions to double its impact by facilitating more repairs each year.
Aiming for European Dominance in Automotive Payments
Co-founder Jackson emphasized Bumper’s goal to become the leading payment platform for car dealers across Europe. “We want to provide a solution that offers ultimate flexibility for customers to keep their cars on the road,” Jackson said. He believes that Bumper is just beginning to accelerate its impact, highlighting the importance of flexible payment options for both drivers and dealers.
“We provide a win for dealerships and customers alike, and we look forward to expanding our reach to more and more people across Europe in the coming years,” Jackson concluded, underscoring the company’s commitment to enhancing the automotive repair and service experience for European drivers.
