Bumper Acquires AutoBI to Enhance FinTech Platform
Deal News | Nov 06, 2024 | Business Cloud
Bumper, a Sheffield-based FinTech company, has made its first acquisition by purchasing AutoBI, a Telford-based provider of business intelligence tools for the automotive industry. Founded in 2019, AutoBI offers web-based dashboards giving real-time updates covering various aspects of automotive businesses, such as CRM, sales, service, parts, and finance. This acquisition aligns with Bumper's strategic goals to become Europe's largest automotive payment and data platform by integrating enhanced real-time data insights into its digital payments platform, aiding dealer partners with improved business efficiency and profitability. All AutoBI staff will join Bumper, with Jonathan Sharman, AutoBI's founder, continuing as CEO. This move follows a successful Series B funding round earlier this year, where Bumper raised £40 million to strengthen its market position. Bumper has indicated plans to explore further acquisition opportunities should they arise.
Sectors
- FinTech
- Automotive
- Data Analytics
Geography
- United Kingdom – The article primarily discusses companies based in the UK, with Bumper headquartered in Sheffield and AutoBI in Telford, focusing on local market expansion and capabilities.
- Europe – Bumper aims to strengthen its presence across Europe as part of its wider strategic goals mentioned in the acquisition, aiming for continental leadership in automotive finance solutions.
Industry
- FinTech – The article revolves around Bumper, a rapidly growing FinTech company, highlighting their expansion through an acquisition to enhance digital payment solutions for the automotive sector.
- Automotive – The acquisition of AutoBI, which offers business intelligence tools to car retailers, directly involves the automotive industry, showing sector-specific growth efforts by Bumper.
- Data Analytics – AutoBI's capability of real-time data analytics is central to the acquisition deal, as it looks to provide data-driven insights and efficiencies to automotive dealerships.
Financials
- 40 million – Amount raised by Bumper in a Series B funding round at the start of the year to support their expansion and acquisitions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bumper | Acquirer | Company | A Sheffield-based FinTech company focused on becoming a leading automotive payment and data platform across Europe. |
| AutoBI | Target | Company | A Telford-based provider of business intelligence tools for car retailers and OEMs, focusing on real-time data analytics. |
| Jonathan Sharman | CEO | Person | Founder and CEO of AutoBI, who will continue as CEO post-acquisition. |
| Jack Allman | CCO and Co-founder | Person | Chief Commercial Officer and co-founder of Bumper, involved in outlining strategic goals behind the acquisition. |