Automotive FinTech Bumper accelerates with £2m investment

Automotive FinTech Bumper accelerates with £2m investment

Bumper, a pioneering name in the automotive FinTech sector, has successfully closed a £2m Series B extension round.

The investment round saw participation from notable investors, Suzuki Global Ventures and Marubeni Ventures, marking a significant step towards Bumper’s expansion goals across the UK and Europe.

With strategic benefits from Suzuki’s strong European dealer network and Marubeni’s affiliations with RRG Group, HPL Motors Group, and Norton Way Motors in the UK, these partnerships are poised to propel Bumper’s growth trajectory.

At its core, Bumper is revolutionizing the way car repairs and services are financed. By leveraging advanced AI technology, the company facilitates real-time financing decisions, making it easier for customers to manage repair bills and for dealers to attract business. This innovation not only enhances customer convenience but also supports dealers in expanding their customer base.

The fresh capital is earmarked for accelerating Bumper’s ambitious vision of becoming the leading payment platform for car dealers in the UK and across Europe. This includes investing in new product development and expanding the dealer network. The company’s success is underscored by a record year of growth, with a 100% increase in Gross Merchandise Value (GMV) and an 80% uptick in customer numbers over the last 12 months.

In light of this investment, Bumper Co-Founder and CEO James Jackson expressed his enthusiasm for the future, “With Suzuki Global Ventures and Marubeni Ventures joining our growing portfolio of major automotive investors, we can accelerate our ambitious plans to be the dominant payment platform for car dealers in the UK and across Europe.

“We’re delighted that Suzuki Global Ventures and Marubeni Ventures see the value of what we’ve already achieved and our future potential. Unexpected and unbudgeted car repair bills are a universal problem requiring flexible payment solutions that benefit customers and dealers. With our investors’ support, we’re now ideally placed to invest in new products and increase our dealer footprint.”

Echoing this sentiment, Kinji Saito from Suzuki highlighted the impact of Bumper’s AI technology on customer convenience and dealership attractiveness. Meanwhile, Tristan Jennings of Marubeni Ventures praised Bumper’s proven ability to meet the financing needs of automotive repair customers and its seamless integration into dealership IT systems.

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