Bumper, a UK-based buy now, pay later platform for car servicing and repairs, has raised €9.4 million (US$10.9 million) in a series B extension to expand across Europe.

The funding was led by Autotech Ventures, with participation from investors including Jaguar Land Rover’s InMotion Ventures, Suzuki Global Ventures, Porsche Ventures, and Shell Ventures.

Founded in 2013, Bumper allows drivers to split car repair costs into interest-free payments through dealerships and garages.

The company says over 1.5 million drivers have used its service, which is now available in more than 5,000 dealerships and garages, and works with brands such as Volkswagen, Ford, and Nissan.

Bumper has acquired AutoBI and Cocoon Payments to support its new Bumper Pro B2B tools, is now operationally profitable, and targets €1 billion (US$1.1 billion) in GMV by 2025.

🔗 Source: EU.startups

🧠 Food for thought

1️⃣ BNPL companies are expanding beyond consumer payments into B2B services

Bumper’s strategy of building “a full-stack platform for automotive retail” reflects a broader trend in the BNPL industry as companies seek higher-value revenue streams.

The global BNPL market is projected to reach $576 billion by 2025, with average spending per user expected to increase to $1,380.65 by 2028 as providers expand into higher-ticket categories like travel and healthcare12.

This expansion beyond traditional retail aligns with what other BNPL leaders like Affirm have done, moving from simple payment splitting to comprehensive financial services that serve both consumers and merchants.

Bumper’s acquisitions of AutoBI and Cocoon Payments specifically target the B2B side, allowing them to capture more of the payment processing value chain rather than just offering installment plans.

The shift makes financial sense given that BNPL approval rates have risen to 79% in 2022 from 56% in 2019, indicating the consumer market is becoming more saturated and competitive2.

2️⃣ Strategic acquisitions are driving growth in maturing fintech sectors

Bumper’s targeted M&A strategy, acquiring AutoBI for business intelligence and Cocoon Payments for payment processing, aligns with broader 2025 M&A trends where companies are pursuing strategic deals to expand capabilities.

Strategic M&A activity has grown by 11% year-over-year, with companies particularly focused on technology acquisitions that enhance their core offerings3.