UK fintech Bumper raises $48m in Series B funding round

Funding News: Bumper, a car repair fintech, secures $48 million in Series B funding.
Services Offered: Bumper enables flexible payments for car repairs, allowing owners to split bills into interest-free payments.
Expansion Plans: The fintech, headquartered in Sheffield, UK, plans to use the funding to expand across Europe, focusing on the UK, Spain, Germany, the Netherlands, and Ireland.
Investors: Series B round led by Autotech Ventures, with participation from Shell Ventures, JLR’s InMotion Ventures, Porsche Ventures, and Revo Capital.
Company Growth: Bumper reports 100% YoY growth in Gross Merchandise Value (GMV) and an 80% increase in customer numbers over the last 12 months.
Current Presence: Bumper’s services are available through 5,000 dealers, serving major car companies like Volvo, Ford, Nissan, VW, JLR, and Porsche.
Payment Options: Bumper provides various payment options, including open banking, card payments, and in-dealership card terminals.
Company Background: Founded in 2013, Bumper has raised a total of $64 million in funding to date.
Integration: Bumper’s payment options integrate fully into dealers’ existing infrastructure.
CEO Statement: James Jackson, co-founder and CEO of Bumper, emphasizes the importance of flexible payment options for car repairs, especially during challenging economic times.