A Bumper start to the year
Bumper announced that it had helped fund £500m worth of repairs in the UK by April, and aims to add another £460m to the total by the end of the year.
The automotive fintech, which is backed by the NBRA, supports the automotive aftermarket with a buy now, pay later platform. It has also introduced pay now solutions, including online card payments.
The growth has been driven by partnerships with key dealer groups including Glyn Hopkin, Yeomans, Sinclair and Ancaster. Substantial growth has also been reported in Europe, most notably in Germany, Ireland, Spain and the Netherlands.
Jack Allman, co-founder and chief commercial officer, said:
“Although hitting £0.5bn worth of car repair invoice value is a significant milestone for Bumper, we expect to see an accelerated growth of that figure as the result of more franchised dealer groups joining our network in the UK and across Europe.
“Our rapid growth has been driven by consumers wanting a more affordable way to spread their repair costs without resorting to credit cards and incurring hefty interest charges. The ageing car parc and the rising cost of car parts is pushing up repair bills, so we’re empowering franchised dealers to help their customers spread the costs with our payment solutions. We’re working closely with our dealer partners to integrate Bumper into their dealer management systems to make repair payments as seamless and painless as possible.”
