Bumper receives twelve million US dollars and comes to Germany

The start-up offers a "Buy Now, Pay Later" for car repairs. Bumper now wants to conquer the European market with this.

British auto fintech Bumper has raised $12 million in a Series A funding round for its upcoming expansion into Germany and Europe. Autotech Ventures led the round, with Porsche Ventures and Jaguar Land Rover subsidiary InMotion Ventures also investing.

The fintech plans to use the capital to hire staff in its new locations, expand its technical team and raise awareness of its offering with marketing. Initially, it plans to open an office in Germany and build a German team. In this country, Bumper already has two major cooperation partners: for payment processing, the company works with Raisin Bank, plus Volkswagen is on board.

Next spring, Spain and the Netherlands are to follow as additional locations. By the end of 2022, the company would then like to be represented throughout Europe. "We have seen a huge demand to expand 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 cost of repairs for motorists upfront, and customers pay back in installments. For each repair, the company gets a transaction fee from its business partners. It currently has branches in London, Sheffield and Ankara.