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Bumper has secured a £10m flexible working capital facility from Secure Trust Bank Commercial Finance to support its ambitious growth plans.
Bumper is a payment platform for car servicing, accessories and repairs. It offers finance to customers, enabling them to spread their aftersales costs over monthly payments interest and fee free.
It used to be known as Auto Service Finance and was the winner of the finance product of the year in the Motor Trader Awards in 2020.
The company said that more than 60% of franchised dealers in the UK are now using its services.
“Bumper is on a rapid growth trajectory, thanks to our continued increase in partner numbers, ever improving tech for dealerships, user experience for customers and our recent rebrand,” said James Jackson, CEO and co-founder of Bumper, pictured right with co-founder Jack Allman.
“We were keen to ensure that we partnered with a business that truly understood our market and objectives and could create a flexible facility with scope to grow with us. Secure Trust has invested time in getting to know the business, created a flexible facility that works for us and were able to deliver it quickly.”