Car repair finance firm lands Bumper funding round from auto giants
Sky News understands that Bumper, which is based in London and Sheffield, will announce later this week that it has raised $11m (£8.1m) in an extension to its Series B funding round.
Founded in 2013 by James Jackson and Jack Allman, Bumper's latest capital injection is also backed by Suzuki Ventures and Shell Ventures.
The round was led by Autotech Ventures.
The company, which has seen the number of motorists it assists soar in the past year, helps drivers split repair bills into BNPL interest-free instalments, and says it is now "operationally profitable".
It has expanded to Germany, Ireland, the Netherlands and Spain, and is also diversifying into other payment and software services through what it describes as "a targeted M&A strategy".
"A sudden repair bill can hit families hard," said Mr Jackson, Bumper's chief executive.
"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 keep their cars on the road without breaking the bank."
Bumper is available as a financing option in more than 5,000 dealerships and garages, and counts car-makers including Audi, Ford, JLR, Nissan and Volkswagen among those with which it works.
Last October, the company acquired AutoBI, a business intelligence platform for car retailers and OEMs (original equipment manufacturers).
More recently, it bought Cocoon Payments, a white-label solution which helps dealerships streamline digital payment processes.
"We're building out from our consumer BNPL roots into a full-stack platform for automotive retail," Mr Jackson said.
"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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Car
4 minutes ago
- Auto Car
Why I'm mourning the death of the agency sales model
"Agency is dead, finished," so said one dealer group executive privately early this year. His tone suggested that car makers must have been mad to ever think they could take over the business of selling cars directly to customers, with dealers acting as handover 'agents'. In one way, he was right. Car makers have proved in the years since the Covid pandemic that they lack the ability to shift metal when markets turn tough. For that, you need a properly incentivised salesperson. Many including Stellantis, Mercedes-Benz, JLR, Ford and Volkswagen have dialled back or abandoned plans to shake up their distribution by switching to the agency model.
Top Gear
34 minutes ago
- Top Gear
Electric Car Grant: here's every car in the UK that gets the discount
Good news: the Electric Car Grant has returned! As surely everyone is thinking, ain't no party like an ECG party. And like all good ECG parties, this one comes with fun like: rules! Stipulations! Eligibility criteria! The government of the United Kingdom has introduced two bands in order to obtain this ECG: Band 1, which offers a fat £3,750 discount for those cars with the lowest CO2 manufacturing footprint, and Band 2, which offers a less fat £1,500 discount for those cars above a certain threshold. The government of the United Kingdom has not yet confirmed what those thresholds are, and… no electric car in the United Kingdom currently qualifies for the fat £3,750 discount. So for now, here's a big list of every car that gets the less fat £1,500 off. Advertisement - Page continues below The hot version of the new Renault 5 supermini. How much of the grant applies? £1,500 (Band 2). So what does it cost after the grant? From £32,000. What do you think of it? It's a very different experience to hot Clios of old, but still a good one… there's a sense of humour, good looks, usable performance, gadgets to play with and it's well priced. Read the full review here You might like It's the electric version of Citroen's best-selling car ever, the C3. How much of the grant applies? £1,500. So what does it cost after the grant? From £20,595. What do you think of it? There's a lot we really, really like about the Citroen e-C3… and not a lot we don't. Read the full review here Advertisement - Page continues below Essentially a slightly larger, raised version of the standard C3 supermini. How much of the grant applies? £1,500. So what does it cost after the grant? From £21,595. What do you think of it? It fulfils its brief as a slightly roomier C3 without becoming too posh or too expensive. Read our full review here Good question. It's still a hatchback, but slightly taller. Not tall enough to be an SUV, and too sleek of boot to be a crossover. How much of the grant applies? £1,500. So what does it cost after the grant? From £26,150. What do you think of it? It's an interestingly styled hatch with a very reasonable asking price. Read our full review here Largely identical to the e-C4, only with an elongated rear end. How much of the grant applies? £1,500. So what does it cost after the grant? From £27,215. What do you think of it? Could do with a slightly firmer setup for better body control: the extra weight (over 200kg vs the hybrid) means it suffers from a bounce and a wallowyness that isn't there in the hybrids. Read the full review here A big, friendly Citroen, now in its second generation and freshly electrified. How much of the grant applies? £1,500. What will it cost? From £32,565. What do you think of it? We've not driven it yet, but it sits on the same bones as the Peugeot e-3008 and e-5008, and both of those are decent... Read the full story here Advertisement - Page continues below A van-based car that offers immense practicality and loads of space. How much of the grant applies? £1,500. So what does it cost after the grant? From £29,740. What do you think of it? Enormously practical and built for family life, the Berlingo does all you could realistically ask of it. Read our full review here Only Nissan's second attempt at an electric car since it introduced the Leaf in 2010 and stole a march on everyone. How much of the grant applies? £1,500. So what does it cost after the grant? From £33,500. What do you think of it? Looks fun, but drives a bit more like you'd expect a Nissan to. If you're after an electric family SUV with a decent amount of range, then you could do a lot worse. Read our full review here Advertisement - Page continues below Everyone's favourite learner car, here reimagined as an electrified supermini, ready to be silently dinged into oblivion by an entirely new generation of drivers. How much of the grant applies? £1,500. So what does it cost after the grant? From £21,495. What do you think of it? We've yet to drive the new one, but it's the based on the 'AmpR Small' platform that underpins the award-winning Renault 5. Find out more here Closely related to the wonderful Renault 5 EV, but with an 8cm longer wheelbase. That's why it's a little more expensive than the R5, even if their names might make you think the prices are the other way around. How much of the grant applies? £1,500. So what does it cost after the grant? From £25,495. What do you think of it? There's goodness in the R4 that goes beyond design: the interior is sublime, the tech is well executed, it's value for money and (most importantly of all) unfailingly uplifting to drive. Renault has hit another home run with this. Read our full review here More than just a simple electric supermini, this is a small car you desire rather than merely decide upon. How much of the grant applies? £1,500. So what does it cost after the grant? From £21,495. What do you think of it? It feels consistent: as charming to drive as it is to look at and to sit in. Your first love should last. Read our full review here Renault's family hatch, designed and built all-in for battery power. How much of the grant applies? £1,500. So what does it cost after the grant? From £30,995. What do you think of it? The Megane is conventionally desirable, handsome, well-finished and easy to use... there's very little wrong with it. Read our full review here It's a long-ish wheelbase, long-range electric family car. How much of the grant applies? £1,500. So what does it cost after the grant? From £35,495. What do you think of it? Space, efficiency and superb tech count in the Scenic's favour. But it's also good-looking on the outside and well-finished within. Read our full review here It's an Astra. And specifically, the Astra Electric. There aren't many more recognisable names in the heartland of British motoring these days. How much of the grant applies? £1,500. So what does it cost after the grant? From £32,630. What do you think of it? We like the eighth-generation Astra, and the electric one is the best of the lot… we're just not head-over-heels in love with it. Read our full review here In case you hadn't guessed yet, it's the fully electric version of one of Britain's best-selling cars. How much of the grant applies? £1,500. So what does it cost after the grant? From £25,280. What do you think of it? It's significantly less peacocky than its Honda or Mini rivals, and it'll go further and has bags more room for people. Read our full review here Vauxhall Combo Life Electric The same van-based car as the Citroen e-Berlingo and the Peugeot e-Rifter. How much of the grant applies? £1,500. So what does it cost after the grant? From £30,690. What do you think of it? The Combo is well judged for family life and makes no misguided attempts at sportiness. Read our full review here Vauxhall Frontera Electric It's the new Vauxhall Frontera, making its return after a 20-year absence. How much of the grant applies? £1,500. So what does it cost after the grant? From £23,995. What do you think of it? It feels well judged. Its driving manners exceeded our expectations, it blends the company's now familiar image with the kind of rugged looks people favour these days, and above all there's no arguing with the cost. Read the full review here Vauxhall Grandland Electric It's the second-generation Vauxhall Grandland, available for the first time with electric power, in case you hadn't already guessed by the name. How much of the grant applies? £1,500. So what does it cost after the grant? From £34,555. What do you think of it? This is a car you'll buy with your sensible shoes on, and not those fluorescent trainers you got on a whim and haven't worn since. Read our full review here Vauxhall's smallest crossover. How much of the grant applies? £1,500. So what does it cost after the grant? From £30,180. What do you think of it? What the Mokka does is make a Corsa-sized crossover more interesting than it has any right to be. Read the full review here
Top Gear
34 minutes ago
- Top Gear
How good does this Callum Vanquish Shooting Brake look?
Ian Callum has been playing with the Vanquish again. Won't somebody let him make this thing? Remember Ian Callum's updated take on the original Aston Martin Vanquish? Well, he wants to make it more… practical. We approve, because what better way to improve a supercar than by making it possible to bring dogs along for the ride? We first saw a single angle of this VC25 Shooting Brake concept back in May 2023, but now it has been rendered in a lovely new colour and looks pretty much ready for production. Unfortunately, Callum says that it is still 'purely conceptual' for now, but that interested parties should get in touch.
