Bumper has completed its first acquisition with the purchase of AutoBI, a specialist provider of business intelligence tools for car retailers and OEMs.
The Telford-based business was founded in 2019 and its web-based AutoBI dashboards provide near real-time updates on critical information about all aspects of an automotive business including CRM, sales, service, parts and finance.
The acquisition will enable Bumper, one of the fastest-growing FinTechs in Europe, to enhance its digital payments platform with increased insights for its dealer partners.
All staff will transfer with the business and founder Jonathan Sharman will continue as its CEO.
Sheffield-based Bumper raised £40 million in Series B funding at the start of the year.
Jack Allman, CCO and cco-founder of Bumper said: “AutoBI is a perfect fit for Bumper and this acquisition is a key part of our strategic goal to become Europe’s largest automotive payment and data platform.
“AutoBI’s ability to generate thousands of near real-time reports will enable us to provide our dealer partners with greater visibility of data and insights across their businesses, helping boost their profitability, efficiencies and cost savings.”
“We’re delighted to welcome the AutoBI team to the business. This is our first acquisition and we will review further opportunities as they arise.”
Jonathan Sharman of AutoBI said: “The AutoBI team are excited to become part of Bumper and support its growth in the UK and Europe as the leading finance platform for car retailers.
“The synergies between the businesses will enable us to seamlessly add further value to Bumper’s dealer proposition.”