Bumper receives twelve million US dollars and comes to Germany

The start-up offers a "buy now, pay later" service for car repairs. Bumper now wants to use this to conquer the European market.

The British car fintech Bumper has raised 12 million US dollars in a Series A financing round for its upcoming expansion into Germany and Europe. Autotech Ventures is leading the round, with Porsche Ventures and Jaguar Land Rover subsidiary InMotion Ventures also investing.

The fintech plans to use the capital to hire employees at the new locations, expand its technical team and raise awareness of its offering through marketing. Initially, it wants to open a branch in Germany and build up a German team. Bumper already has two major cooperation partners in Germany: the company works with Raisin Bank for payment processing and Volkswagen is also on board.

Spain and the Netherlands are to follow as additional locations next spring. The company aims to be represented throughout Europe by the end of 2022. "We have seen a huge demand for an expansion of our service offering and look forward to making Bumper accessible to customers across Europe," says Bumper Managing Director and co-founder James Jackson.

James Jackson and Jack Allman founded Bumper in the UK in 2013. The fintech offers a "Buy Now, Pay Later" for car repairs. Bumper covers the full repair costs for drivers in advance and customers pay back in installments. The company receives a transaction fee from its business partners for each repair. There are currently branches in London, Sheffield and Ankara.