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London-based Bumper, a Purchase Now Pay Later service supplier for automobile repairs and companies, has secured an additional £2M (roughly €2.33M) in its Collection B extension spherical.
The extra funding got here from Suzuki Motor Company by way of its company VC fund, Suzuki International Ventures, and Tokyo-based Marubeni Ventures.
Suzuki Motor Company says, “By the funding, we purpose to boost the comfort of consumers by way of increasing Bumper’s companies.”
James Jackson, CEO and co-founder of Bumper, mentions in a LinkedIn publish, “We’re thrilled to be partnering with these business leaders and bringing our platform to much more Suzuki Europe and Marubeni sellers throughout all our European markets.”
Earlier this 12 months, the fintech startup raised €46M (£40M) in its Collection B spherical, combining fairness and debt financing.
An automotive cost platform
Based in 2013 by James Jackson and Jack Allman, Bumper offers drivers with an answer to divide restore payments into interest-free instalments, providing flexibility in cost for automobile repairs.
Headquartered in Sheffield with workplaces in London and Ankara (Turkey), Bumper serves main automotive manufacturers like Volvo, Ford, Nissan, VW Group, JLR, and Porsche.
Bumper provides each digital and bodily cost choices, resembling open banking and card funds, integrating into sellers’ infrastructure.
In January 2024, the corporate claimed to have witnessed document development, with a 100 per cent year-on-year enhance in Gross Merchandise Worth (GMV) and an 80 per cent rise in buyer numbers over the previous 12 months.
Bumper operates by way of 5,000 sellers, which have supplied versatile funds for over 250,000 repairs within the final 12 months. It goals to double its impression by facilitating extra repairs every year.
Co-founder Jackson says, “We need to be the dominant cost platform for automobile sellers throughout Europe. We’ll do it by offering a no brainer answer, one that provides their prospects the last word flexibility in making the required funds to maintain their vehicles on the highway.”
“Whereas we’re happy with our document, I firmly imagine we’re simply entering into second gear. The necessity for a versatile approach to pay for automobile repairs is vitally essential for drivers, and sellers need to guarantee they’ll present prospects with each cause to e book them in there after which.”
“Bumper offers a win for dealerships and prospects alike, and we look ahead to increasing our attain to an increasing number of individuals throughout Europe within the coming years,” provides Jackson.
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