Bumper raises £2 million in Series B extension with Suzuki Global Ventures and Marubeni Ventures

Bumper raises £2 million in Series B extension with Suzuki Global Ventures and Marubeni Ventures

We’re pleased to announce we’ve raised a further £2 million in a Series B extension round, with Suzuki Global Ventures and Marubeni Ventures joining as investors.

With Suzuki’s strong European dealer network and Marubeni’s RRG Group, HPL Motors Group and Norton Way Motors in the UK, the new investors are strategically important for further accelerating Bumper’s scaled growth across the UK and Europe. 

Suzuki’s UK dealer operation recently ranked as the top-performing automotive brand in the Institute of Customer Service’s 2024 UK Customer Satisfaction Index. 

The latest investment follows last year’s £40 million Series B fundraise with Autotech Ventures, Shell Ventures, JLR’s InMotion Ventures and Porsche Ventures.  Total investment in Bumper has now reached £55 million. 

The new investors are joining after a record year of growth for the business with Gross Merchandise Value (GMV) growing 100% year on year and customer numbers up 80% in the last 12 months. 

James Jackson, Bumper Co-Founder and CEO said, “With Suzuki Global Ventures and Marubeni Ventures joining our growing portfolio of major automotive investors, we can accelerate our ambitious plans to be the dominant payment platform for car dealers in the UK and across Europe.

“We’re delighted that Suzuki Global Ventures and Marubeni Ventures see the value of what we’ve already achieved and our future potential. Unexpected and unbudgeted car repair bills are a universal problem requiring flexible payment solutions that benefit customers and dealers. With our investors’ support, we’re now ideally placed to invest in new products and increase our dealer footprint.”

Kinji Saito, Director and Senior Managing Officer at Suzuki said, “Bumper’s unique AI technology enables real-time financing decisions, thereby making it easier for customers to take their cars for repairs and services, and dealers to attract customers. 

“With this investment, made through Suzuki Motor Corporation’s corporate venture capital fund, we aim to enhance the convenience of customers through expanding Bumper’s services.” 

Tristan Jennings, Senior Associate of Marubeni Ventures said, “Bumper has clearly demonstrated an ability to address the unique financing needs of automotive repair customers, reduce friction at point of sale and improve the user experience, while seamlessly integrating into existing dealership IT infrastructure. 

“We aim to leverage Marubeni’s existing businesses in the automotive and auto finance sectors to further expand Bumper’s reach and build upon its outstanding level of customer service.”

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