A purchase now, pay later specialist which helps motorists unfold the price of repairing their automobiles has landed tens of millions of kilos from the enterprise arms of Jaguar Land Rover, Porsche and different main automotive teams.
Based in 2013 by James Jackson and Jack Allman, Bumper’s newest capital injection can also be backed by Suzuki Ventures and Shell Ventures.
The spherical was led by Autotech Ventures.
The corporate, which has seen the variety of motorists it assists soar up to now yr, helps drivers cut up restore payments into BNPL interest-free instalments, and says it’s now “operationally profitable”.
It has expanded to Germany, Eire, the Netherlands and Spain, and can also be diversifying into different fee and software program companies by means of what it describes as “a targeted M&A strategy”.
“A sudden repair bill can hit families hard,” stated Mr Jackson, Bumper’s chief govt.
“We created Bumper to give people control, flexibility and peace of mind when the unexpected happens.
“Over 1.5 million drivers have now used our platform to maintain their automobiles on the highway with out breaking the financial institution.”
Bumper is out there as a financing possibility in additional than 5,000 dealerships and garages, and counts car-makers together with Audi, Ford, JLR, Nissan and Volkswagen amongst these with which it really works.
Final October, the corporate acquired AutoBI, a enterprise intelligence platform for automotive retailers and OEMs (unique gear producers).
Extra just lately, it purchased Cocoon Funds, a white-label answer which helps dealerships streamline digital fee processes.
“We’re building out from our consumer BNPL roots into a full-stack platform for automotive retail,” Mr Jackson stated.
“By owning more of the payments stack and delivering software solutions to dealers, we can improve margins, simplify operations and support the future of mobility retail.”
The valuation at which Bumper’s new funding had been raised was unclear on Wednesday.
