Bumper secures £2m funding because it reaches millionth buyer

Bumper, the automotive fintech offering digital fee providers for automotive repairs, has attracted a £2 million funding from Salica Investments.

That is the primary funding from London-based Salica and follows funding earlier this yr from Suzuki International Investments and Marubeni Ventures.

The extra funding comes at an necessary time for the enterprise because it marks the millionth buyer utilizing its digital fee platform and its first acquisition, with the current buy of AutoBI, the supplier of enterprise intelligence instruments for automotive retailers.

Bumper has additionally been recognised as one of many quickest rising European startups in 2024 within the newly printed Sifted 250 rankings.

James Jackson, co-founder and chief government, mentioned: “Attracting excessive profile buyers of the calibre of Salicia Investments vindicates our strategy to delivering a seamless digital funds platform for sellers within the UK and throughout Europe.

“This yr Bumper will facilitate £300m price of automotive repairs, with a million clients having now used our providers to fund over £0.7bn price of aftersales payments.

“Salicia’s funding will empower us to attain the bold progress plans we now have set for 2025.”

Jemma Bruton, managing director of Salica Investments, mentioned: “We’re delighted to assist Bumper, a extremely profitable fintech which is remodeling the best way automotive repairs are paid for by its pioneering digital options.

“This funding underscores our confidence within the enterprise, its management and its progress potential.”