Bumper (company) explained

Bumper
Type:Private company
Industry:Software
Founder:James Jackson
Jack Allman
Hq Location City:Sheffield
Hq Location Country:United Kingdom
Products:Car finance

Bumper is a British financial technology company based in Sheffield, England.[1] It provides a digital payment platform to car dealerships that provides car financing for repairs.[1] [2]

History

Bumper was founded in 2013 by James Jackson and Jack Allman as Auto Service Finance.[1] [3] In 2021, Bumper expanded its operations to Ireland and later to Germany and Spain in 2022.[4]

In 2022, Bumper moved its headquarters from London to Sheffield.[1]

In 2021, it received £9 million from Autotech Ventures, Porsche Ventures, and Jaguar Land Rover's InMotion Ventures.[5] In 2024, Bumper received further investment of £40 million from multiple investors, including Shell Ventures, Jaguar Land Rover's InMotion Ventures, and Porsche Ventures.[6]

Locations

Bumper is headquartered in Sheffield, South Yorkshire, England. It has additional offices in London and Ankara.[6]

Platform

Bumper provides a digital payment platform to car dealerships to facilitate transactions related to car repairs which includes open banking.[1] With open banking, customers can pay their bill directly from their account to the garage's account.[4] It's like a bank transfer but you don't need to enter their bank details, you get a notification in your online banking app and approve the payment from there.[4]

A user can receive detailed invoices for repair work, which include options to pay in full or through an interest-free installment plan, similar to other buy now, pay later services.[1] [6]

Notes and References

  1. Web site: Meet the fintech looking to become a tech unicorn that has just moved from London to Sheffield. Ismail . Mulla . 22 July 2022. Yorkshire Post.
  2. Web site: UK motorists pay £1billion annually due to damage caused by potholes. Kris. Boratyn. February 6, 2023. Express.co.uk.
  3. Web site: How Bumper offers simple alternative to unexpected repair costs. Nick . Gibbs . 13 January 2022 . Autocar.
  4. Web site: Bumper celebrates massive revenue increases . John . Bowman. April 4, 2023. CarDealer Magazine.
  5. Web site: Jaguar and Porsche back pay-later app for car repairs. Matthew. Field. December 12, 2021. Daily Telegraph.
  6. Web site: Sheffield fintech firm Bumper looks to accelerate growth after £40m funding round . Michael . Crossland . 4 January 2024. Yorkshire Post.