Sheffield fintech firm Bumper looks to accelerate growth after £40m funding round

The new funding will be used to expand Bumper’s reach and technology as it seeks to become the “dominant payment platform” for car dealers across Europe, most notably in the UK, Spain, Germany, the Netherlands, and Ireland.

Bumper is currently available through 5,000 dealers, and allows customers to make flexible payments for car repairs. The firm has provided flexible payments for more than 250,000 repairs in the last 12-months, with the company aiming to double this number each year.

James Jackson, co-founder and chief executive officer of Bumper, said: “We want to be the dominant payment platform for car dealers across Europe. We are proud of the growth journey we have been on over the last 9 years and the endorsement of investment from InMotion Ventures and Porsche is a hugely positive moment for the business.

“While we’re proud of our record, I firmly believe we’re just getting into second gear. There has never been a more important time for a business like Bumper, with consumers across Europe feeling the pinch amidst high inflation, rising bills and escalating rent or mortgage costs.”

Bumper – which is based in Sheffield and has offices in London and Ankara – counts most of the major automotive brands as clients, including Volvo, Ford, Nissan, VW Group, in addition to both JLR and Porsche.

The funding round comes on the back of record growth, with customers up 80 per cent.