Bumper, a London, and Sheffield, UK-based auto fintech startup, raised $12M in Series A funding.
The round was led by Autotech Ventures, with participation from Jaguar Land Rover’s fund InMotion Ventures, and a group of prominent angel investors.
The company intends to use the funds to roll out its car repair financing platform across Germany, with plans to launch in Spain and the Netherlands in the next three months.
Founded in 2013 by James Jackson, CEO and cofounder, Bumper (formerly Auto Service Finance) provides an interest-free digital payment platform for vehicle repairs and services, enabling owners to spread their costs. It also delivers an instalment financing solution using proprietary AI enabled technology to facilitate real-time lending decisions. The company enables dealerships and garages to sell a larger proportion of red and amber work, reducing workshop downtime, with no risks or liabilities, while also creating greater customer loyalty. Bumper works with 2,500 franchised dealers, over 700 garages and major car brands across the UK and Republic of Ireland.
The company also has a tech development centre in Ankara, Turkey.