Autotech Ventures leads 48 million dollar financing round for Bumper

With investment from Autotech Ventures and other leading companies, Bumper is focusing on expanding its reach to support European car dealers with a strong payment platform.

Bumper has closed a new round of funding, raising $48 million to boost flexible payments in the automotive industry across Europe. The round was led by Autotech Ventures and received investment from Shell Ventures, JLR's InMotion Ventures, Porsche Ventures and Revo Capital.

Bumper fulfills a real customer need by supporting car owners in stressful situations so they can get back on the road as quickly and efficiently as possible

Alexei Andreev, Managing Director of Autotech Ventures

The fintech company offers drivers the opportunity to split repair costs into interest-free installments to keep using their vehicles. They already have car manufacturers such as Volvo, Ford, Nissan, VW, Seat, Skoda, Audi, JLR and Porsche as customers and have processed over 500,000 car repairs across Europe.

This funding round will be used to strengthen the platform for car dealers in Europe. Bumper, headquartered in Sheffield with offices in London and Ankara, is working to expand its presence and already has over 5,000 dealers using its services.

We want to become the dominant payment platform for car dealers across Europe.

James Jackson, co-founder and CEO of Bumper

James Jackson, co-founder and CEO of Bumper, emphasizes the importance of their mission in light of the current economic challenges in Europe. Flexibility in paying for car repairs is crucial for motorists and Bumper aims to offer this flexibility across Europe.

Investors are enthusiastic about Bumper's innovative approach to helping car owners in stressful situations while increasing dealer profitability. The expansion of activities across Europe is seen as promising by the investors.

Bumper will continue to improve its technology to optimize the customer experience and meet the needs of drivers and dealers alike. With this new financing round, the company is positioning itself to further expand its services in Europe. The company offers various digital and physical payment options and has already collected positive customer reviews, including over 23,000 reviews with an average rating of 4.9 out of 5 on Trustpilot.