Alastair Shephard

Content Writer

Alastair Shephard | Author

The team at Bumper are delighted to have secured further funding worth £26.1 million ($30 million) during the Series A extension round which was led by Bumper’s partners, Revo Capital with participation from Autotech Ventures, InMotion Ventures (the investment arm of Jaguar Land Rover) and ITOCHU. 

As part of this extension round, Bumper also agreed to a new debt facility with Secure Trust Commercial Finance worth £20 million ($23 million) with some additional investment coming in the form of equity through various partners. 

The extension round ends just over one year after Bumper’s Series A round raised £10.5 million ($12 million) in June 2021, bringing the total investment to £36.6 million ($42 million).

James Jackson, CEO and co-founder of Bumper has commented on the recent funding:

“Bumper’s rapid growth trajectory has been incredibly exciting, and the new round of investment from our amazing partners means that we can continue this growth trajectory and pursue our lofty goals to expand further across Europe. As the cost-of-living crisis tightens, it’s never been more important to offer affordable and convenient payment options giving driver peace of mind when getting their vehicles repaired.” 

John Gribbon, Regional Managing Director of Yorkshire and the North East at Secure Trust Bank has said: “We first began working with Bumper’s management team nearly three years ago and since then the business has shifted up a gear, developing its technical capability and growing its network of dealerships thereby demonstrating the strength of its business model. Our close relationship with the team and our growing understanding of the business have allowed us to work quickly and flexibly, keeping pace with Bumper’s growing working capital needs. This latest investment round puts the business in pole position for further success.” 

Cenk Bayrakdar, Managing Director and Founding Partner at Revo Capital commented: “Bumper's impressive growth and history of achieving success through its comprehensive fintech solution for car repairs has well-positioned Bumper to accelerate its international growth. James and his team continue to prove Bumper's strength and effectiveness in this space, and we are excited to join them on the next leg of their journey and support Bumper’s R&D initiatives in Türkiye.” 

Alexei Andreev, Managing Director at Autotech Ventures, commented: “We are impressed by the clever finance tools and modern software used by Bumper, and how this technology is becoming essential in today’s economy. Autotech continues to support the team on its journey to becoming an industry-leading BNPL product.”

Finally, Mike Smeed, Managing Director at InMotion Ventures, also commented: “Our team continues to be impressed by Bumper’s remarkable growth in the UK, and more recently in Ireland, Spain and Germany. We are delighted to announce our additional investment into the business, and look forward to supporting the team as they expand across Europe”.

The funds will be used to continue Bumper’s expansion plans into Germany, Ireland, Spain and the Netherlands. 

Bumper secures a further £26m of funding in Series A extension round

We are pleased to announce we’ve been chosen as Aftersales Product Provider of the Year at the 2022 Motor Trader Awards.

Having previously won New Finance Provider at their 2020 awards, the 

 team attended the award this month at the prestigious Grosvenor House Hotel, on London’s Park Lane.

The evening saw lots of key industry players take home awards – including some of our partner groups including Vertu Motors with Franchised Dealer Website of the Year and Arnold Clark with EV Retailer of the Year.

Bumper CCO and Co-Founder, Jack Allman, pictured above, said, “What a fantastic night and a great opportunity to meet with our existing partners in such a great setting.

“This award is particularly exciting at a time when Bumper is striving to improve its offering, continuously working with stakeholders to evolve the product to better meet the needs of our user base.

“Moreover, it is a testament to the hard work and talent of the entire team, who are key in optimising our product to ensure it is fully embedded into our partner’s existing digital platforms so that 

 fits seamlessly into their current processes.”

Congratulations to all the winners at the Motor Trader Awards.

Bumper win Aftersales Product Provider of the Year

As part of our mission to become a carbon neutral business, we headed to the Peak District to plant maple, lime, aspen, birch and oak trees. 

The Peak District National Park Foundation,

 twelve members of the team took part in planting the trees. After six long hours in the November rain and wind, the team had successfully planted 55 trees. 

The process was simple. First, two wooden support poles were hammered into the ground. In the middle, a hole was dug, and a small tree inserted. The earth had to be closed and tightly packed around the roots to ensure oxygen was not present as this could reduce the chance of the tree’s success. To protect the tree from animals, a small plastic sheaf was wrapped around it, with a cane used for support and metal mesh secured on the outside.

Despite the cold weather, the team enjoyed the day. Hannah Fisher, Bumper Consumer Marketing Manager, said, “What's better than being out in the open air, socialising and getting a bit of exercise while planting some wonderful trees?

“I am very grateful for the opportunities we are given at Bumper to go and spend time volunteering alongside colleagues. We all need to contribute to looking after our environment and it's important that employers recognise this and allow their team members time to do their bit too. 

"I look forward to seeing how those trees flourish!”

Ash Dieback disease is caused by an airborne fungus that spreads from tree to tree. Killing them from the top down, the infection weakens their structure making them likely to uproot. This can be unsafe for residents and visitors. 

Climate change has only made the problem worse. Spring 2020, one of the warmest recorded, has left the Ash trees more prone to catching the disease and recent evidence suggests that in 10 to 15 years Ash Dieback disease will result in the death of 90% of Ash trees in the UK. 

The aim of the Peak District National Park Foundation is to prevent the spread of the disease by removing infected trees to prevent the spread and restore the woodland areas by planting other native tree species such as Oak and Birch. 

The Peak District National Park Foundation is a registered charity created to conserve the national park for future generations; preparing the area for a future climate and preserving and restoring natural habitats. 

If you would like to help the foundation in their fight against 

 disease or their other important appeals you can find out more information or make a donation on their 

We head to the Peak District to create the Bumper Forest

We have moved our headquarters to the heart of Sheffield City Centre. 

Located near Sheffield Hallam University, the new site is home to our Operations, Growth, and People team. The office is our third to open in Europe, with a tech centre in Ankara, Turkey and another office in Hammersmith, London. 

The news comes as it was announced Sheffield would be one of the first cities in the country to receive a share of the government’s £1.5 billion ‘levelling-up’ fund as part of their plan to improve areas outside of London. Since our move to Sheffield we have employed 12 members of staff in the Yorkshire area and plan to bring a further 40 jobs to the region. 

CEO and co-founder, James Jackson, said, “

We’re really excited to have relocated our headquarters to Sheffield, in the heart of Yorkshire. After a year of expansion and growth which includes partnering with new dealer groups like Nissan, and bringing Bumper to Germany and the Republic of Ireland, this next step will allow us to continue to grow the platform, opening to new markets, securing further funding and offering the service to more dealers and garages.

“When deciding to open an office in Sheffield, it really was an easy decision to make. Sheffield have access to great talent, through the world class universities and the growing start-up ecosystem. It's also a great place to live with access to the beautiful Peak District on our doorstep. 

"The people of Sheffield are hard-working, creative and friendly to their core, and we are thrilled to be able to bring more jobs to the local area. What’s more, the fact that Sheffield was one of the first cities to benefit from the Government’s Levelling up agenda proves that it’s an area with a bright future ahead. We can’t wait to continue growing and achieving more success, boosting the economy in Sheffield and the surrounding area.” 

Bumper move HQ to Sheffield

Like many others working in the tech industry, the pandemic had dramatically changed our working life over the last few years. Spending more time at home, away from colleagues, created a more challenging working environment for us.

When it was announced we would be going to Portugal for a team-bonding exercise we were excited for some face-to-face time with colleagues.

Initially, the trip was postponed due to the Covid lockdowns in Turkey, where our tech team are based, so we had to wait a while before we could. 

In preparation, we created an app to keep our fellow ‘Bumpees’ up to date with timetables, flight times and menus for evening meals. The organisers of the trip used the app to send notifications to the attendees. We also had to make sure our visas were applied for and approved, which was a very lengthy process.

When June 2022 arrived, we were ready to go. The team jumped on a plane from Ankara to Lisbon – flight time, 8 hours! We reached Lisbon and headed to our hotel in Ericeira, a small surfer town about 50 minutes from the centre of Lisbon.

Then it was time for the retreat to begin. First on the agenda was meeting the rest of the team face-to-face. Having only seen most of the team members on video calls, it was interesting to see how we shared many of the same values and goals.

The following days were filled with activities, workshops, motivational speakers, and a little time to spend on the beach too! The whole experience was unforgettable and has really brought the team closer together.

Semih Özden graduated with a 3.45 GPA from Orta Doğu Teknik University, Ankara and has over 5 years of experience as a front and back-end developer. 

He has worked as a React developer for Bumper for almost 2 years and is responsible for designing and creating JavaScript-based applications for web or mobile environments. 

Our tech team reflect on their trip to Portugal

What’s the first thing that comes to your mind when you think about Turkey? For some it’s the soulful architecture, for others it’s the food, local delicacies; Cappadocia also features a place on most people’s bucket list. Tech offshoring? Not so much. 

I previously co-founded and ran a tech start-up with my Turkish friend many eons ago. Having spent 12 months in Istanbul, I was deeply embedded in the start-up scene there which gave me great exposure to the hiring landscape beyond mainstream Europe. 

Fast forward to the year 2018 at Bumper, as we actively started growing the business, I fondly looked back on my days in Turkey and decided to see if the landscape was still viable for attracting and recruiting talent. We also actively researched other countries in Europe and finally settled on a trial run with 2 developers which fledged into well-developed strategy of scouting talent in Turkey for the following reasons: 

We started our journey in the summer of 2018 with 2 developers in Ankara to a team of 12 developers today working across our suite of product integrations and core platform as we expand into more European markets. We continue to hire and build our team in Ankara. 

Pasha Jam, our CTO, joined Bumper in 2015. With over a decade of experience working with start-ups, Pasha excels in creation and execution of technical vision and strategy to propel businesses towards commercial success. 

Now celebrating 7 years with the company, Pasha led Bumper’s tech team from two hires working remotely in Turkey to a full team of developers based in our Ankara tech centre. 

Building talented teams in Turkey 

Last week we saw the Financial Conduct Authority (FCA) issue a Press Release warning Buy Now Pay Later (BNPL) firms about misleading adverts. 

There is certainly a lot of scrutiny and discussion about the BNPL sector with controversy over recent initiatives, including BNPL for food and rapid expansion in retail propositions that often target a younger, less financially sophisticated consumer than Bumper’s target market in the automotive sector. 

Given the cost-of-living crisis it is right that firms fully explain the risks associated with BNPL agreements to ensure that consumers fully understand the potential risks versus the obvious benefits. 

The FCA clearly has concerns in these areas, and its release, unusually, takes care to provide examples of how a firm may test if adverts are clear, fair and not misleading. 

This is very helpful to ensure all BNPL firms are consistent in applying the same benchmark to advertising as we do at Bumper. 

So, what are the examples and how do we meet the standards now at Bumper: 

The risk of taking on debt that customers cannot afford to repay, the consequences of missed payments and any other adverse consequences such as the impact on the customer's credit file.

We clearly explain that a soft search is undertaken upon application, and that it does not impact a customer's credit score, but any missed payments may in the future affect their ability to borrow. (*See our up-to-date risk warning below) 

Information about when charges become payable

We have always been extremely clear about our product; keeping it simple, 0% interest and a one-off fee of £12 for the first instance of a repayment being missed by 7 days or more. That’s it, no hidden charges or penalties. 

All our advertising follows the FCA’s guidance, we do not use Social Media influencers, and ensure we approve all adverts - be they real time, static or social media posts from Bumper. 

We took the step earlier in the year (January) to recruit a Chief Risk & Compliance Officer, Paul Edgecombe, who has 30+ years' experience in financial services and specific experience in Financial Promotions as SM16/17 approved by the FCA. Paul oversees our advertising and has set robust controls to ensure the standards are what you would expect from a regulated firm in advance of the forthcoming regulation of BNPL. 

The FCA has suggested all BNPL firms that are currently unregulated and operating under exemptions check with their legal teams to ensure they remain exempt from requiring an FCA authorised firm approving their advertising. We are confident that all our advertising is compliant but to prove this is the cas

ave asked for this clarification in line with the FCA’s request. We expect to hear from them very soon and will of course update all our partners once advice is received. 

For now, we welcome the FCA’s guidance and believe the forthcoming regulation in the BNPL sector will be a positive for consumers at a time when they may be most vulnerable. All our efforts this year have been made to demonstrate Bumper meets not only the FCA’s standards on Financial Promotions but all the rules and guidance they would expect from a regulated BNPL lender. 

PayLater is a form of credit not regulated by the FCA. Missed payments may impact your credit score and your ability to borrow in the future. A one-off missed payment fee (£12) may be charged. Recovering missed payments may involve using a debt collection agency, or legal action. T&Cs apply.

Raising the standards of BNPL advertising at Bumper

Team Bumper met (for the first time in its entirety) in Lisbon last month for a week of collaborative workshops and team-bonding activities. 

In attendance, were our teams based in the UK, Spain, Germany and our development team based in Ankara, Turkey. 

The main purpose of the meet-up was to allow members of different departments to collaborate, chat and understand each other’s goals. 

During the update, teams stood to present who they were and their plans for the future. We heard from People, Engineering, Product, Sales, Risk and Compliance, Growth, and Operations. 

Before the trip, workshops were held by our People Team, to understand exactly what Bumper’s core values are; how we work together as a team, how we approach new opportunities and challenges, and how we interact with external stakeholders. 

 - We’re committed, enthusiastic and always give 110%. 

- We're inquisitive, drive change & positively disrupt. 

 - We embrace it, put our stamp on it & take pride in it. 

- We're passionate, tenacious and resilient; we get the job done 

 - We keep it real & we trust each other to do the right thing, in the right way. 

- We stay focused on the goal, avoid overcomplicating things & insist on transparency. 

One evening, we were joined by guest speaker, Alan Chambers, who discussed team motivation, how to create a winning mindset and what inspirational leadership looks like. Alan is a former Royal Marine Commando, Author, and Polar Adventurer. 

He led the first successful unsupported expedition from Canada to the North Pole by a British team. The expedition took them a whopping 672 nautical miles, through temperatures as low as -65°C. 

After seventy days out on the ice, Alan’s team planted the Union Flag on the 16th of May 2000. 

Lastly, some of the team took to the water for paddle-boarding and surfing, whilst others enjoyed a relaxing yoga session. 

For many of the team, working remotely across Europe, this was a great opportunity for them to get to know who they’re working with, face-to-face, without using a video meetings! 

“Very happy to meet every Bumpee face-to-face and spend time together. It was a great opportunity to collect unforgettable memories with each of you!”

Sumru, Talent and People partner (Turkey) 

“Glad to have met most of Bumper and had the opportunity to spend such a legendary time with each of you! I certainly enjoyed myself! A big thank you for the organisers!”

“Thank you to all organizers for this great retreat. It was great opportunity to meet all you in person. I hope to see you all again next retreat” 

“I had a blast! I had been hearing about this trip since I joined a year ago and it really surpassed my expectations big time. So proud to be part of Bumper; loved every minute of it!”

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