Elderstreet is a leading UK venture capital fund manager investing in early stage and development capital for UK growing businesses. They provide funding for growth and development capital in most industry sectors with investments typically in the range of £2m to £10m by syndicating their VCT funds alongside Draper Esprit funds. Draper Esprit is one of the leading venture capital investors involved in the creation, funding and development of high-growth technology businesses with an emphasis on digital technologies in the UK, the Republic of Ireland and Europe. Draper Esprit floated on the AIM market in June 2016 and has a market capitalisation of over £200 million.

Elderstreet Investments

Autotech Ventures is a venture capital firm that manages more than $400 million to invest in start-ups that aim to generate financial returns in the vast $3 trillion ground transportation industry. Connected, autonomous, shared and electrified vehicles and related mobility services have created tectonic shifts in the incumbent ground transportation industry. Vehicle manufacturers, parts suppliers, dealerships, repair shops, parking operators, ground logistics firms, and road infrastructure providers are all being impacted by ground transportation startups. Autotech Ventures provides startup companies with 1) capital to execute on their business plan, 2) access to its industry contacts - including dozens of ground transportation corporate investors who together represent a global market capitalization of over $500 billion dollars, 3) up-to-the-minute market intelligence on the ground transport landscape, 4) support in recruiting ground transportation industry talent, and 5) fundraising support to raise additional capital from other financially-motivated investors and strategic investors. Start-ups typically innovate quickly then scale slowly, while corporations typically innovate slowly then scale quickly. Autotech Ventures brings startups and corporations together to bridge this gap and build a new transportation future.

Autotech Ventures

InMotion Ventures is the venture capital arm of Jaguar Land Rover.  The team collaborates with subject matter experts at JLR to identify and invest in startups shaping the future of the automotive industry. The fund allocates capital and resources to purpose-driven businesses aligned with Jaguar Land Rover’s global strategy, and prioritises environmental and societal impact alongside strategic & financial returns.

InMotion Ventures

Porsche Ventures is a venture capital arm of Porsche that invests in companies from early-stage through growth. The firm was founded in 2018 and is headquartered in Stuttgart, Baden-Wurttemberg, Germany.

Porsche Ventures

Revo Capital (www.revo.vc) is the leading venture capital in Turkey with $188M AUM and was founded at the end of 2013. Having completed the final close of its €90M second fund in October 2021, Revo continues to invest in seed to early and growth-stage startups in Turkey, Eastern Europe and Baltics, and has made 27 investments to-date. Fund’s anchor investors include notable institutions such as IFC, EBRD, EIF and DEG.  Some of fund’s key investments include, but are not limited to Getir, global q-commerce decacorn, PayCore, provider of end-to-end payment solutions and the region’s largest processor; Massive Bio, AI-enabled oncology clinical trial platform; and V-Count, e-commerce style visitor analytics platform for the physical world.

Revo Capital

The history of ITOCHU Corporation (hereinafter ''ITOCHU'') dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years into a sogo shosha, engaging in domestic trading, import/export, and overseas trading of various products such as textiles, machinery, information and communications-related products, metals, products related to oil and other energy sources, general merchandise, chemicals, and provisions and food. In addition, ITOCHU has made multifaceted investments in insurance agencies, finance, construction, real estate trading, and warehousing as well as operations and businesses incidental or related to those fields.

ITOCHU Corporation

Shell Technology Ventures (STV) is the corporate strategic investor for Shell.  Specifically, STV is helping Shell identify, adopt, and deploy new technologies faster, investing in ventures that look promising for delivering a meaningful commercial advantage. As a strategic partner, STV makes minority investments in select tech companies, joint ventures and externally managed venture capital funds.

Shell Ventures

Suzuki Global Ventures is a corporate venture capital fund.

Suzuki Global Ventures

Marubeni Ventures is an investment firm i.e invest in startup companies.

Marubeni Ventures

Founded as an investment firm focusing on the most promising startups, we have evolved into a unique set of private market funds investing globally in equity and debt across complementary sectors and stages. We fuse traditional values with a contemporary approach and balance exacting processes with the agility to capture commercial opportunity and compelling investment returns. Our continuous search for new opportunities has led us to create a balanced collection of complementary funds and relationships.

Salica

Bumper

Bumper is a payment platform for car dealerships. The company specializes in a vehicle finance platform crafted to assist drivers in managing the expenses of their repairs and servicing. Their platform prioritizes flexible payment alternatives, collaborates with accredited repair professionals, and streamlines paperwork processes, allowing drivers to finance their repair expenses through interest-free installments.

Bumper (formerly Auto Service Finance) provides customers interest-free BNPL solutions for vehicle repairs, accessories and parts through its platform up to GBP 3,000 (approx. USD 4,132)in exchange for a transaction fee from merchants. Bumper uses a machine learning-enabled automotive scorecard to assess credit by accessing dealership APIs to source customer information. Applying for financing through Bumper has no impact on users’ credit scores.

Buy Now, Pay Later

Bumper (formerly Auto Service Finance) provides customers interest-free BNPL solutions for vehicle repairs, accessories and parts through its platform up to GBP 3,000 (approx. USD 4,132)in exchange for a transaction fee from merchants. Bumper uses a machine learning-enabled automotive scorecard to assess credit by accessing dealership APIs to source customer information. Applying for financing through Bumper has no impact on users’ credit scores.Key customers and partnershipsAs of December 2021, Bumper was used by nearly 60% of the franchised UK dealer market (3,000+ locations), and it has partnered with leading OEMs including Volkswagen Group, Ford, Jaguar Land Rover, and Nissan, and also integrates with repair quotation tools.Funding and financialsIn its most recent funding round in <a href="https://sp-edge.com/updates/15039">November 2022 </a>, Bumper raised GBP 26.1 million (~USD 32 million) in an extended Series A funding round. It planned to use the funds for the company's operations in key target markets, such as the UK, Spain, Germany, and Ireland, and continuous expansion across Europe. Additionally, the company also intended to pursue its R&amp;D initiatives in Turkey.

Openpay is an Australian BNPL platform launched in 2016 offering flexible payment plans with deferments ranging between 2-24 months for transactions from AUD 50 to AUD 20,000 (approximately USD 36-USD 14,600). The platform focuses on the automotive, healthcare, home improvement, memberships, and education industries. In December 2019, Openpay was listed on the Australian Securities Exchange, raising AUD 50 million (approximately USD 35 million) in the process. This was roughly two years after it had to abruptly cancel its initial IPO plans and raised AUD 10 million (approximately USD 8 million) instead.Openpay’s B2C solution offers equal weekly and bi-weekly installment plans at no interest, with longer terms typically offered for larger ticket purchases. Its proprietary risk management technology drives the platform’s credit decisions, and it integrates with leading e-commerce platforms such as Shopify, PrestaShop, Magento, and WooCommerce. Furthermore, Openpay has a B2B trade account management solution that is separate from its BNPL service.Openpay generates revenue through merchant fees, which represent a percentage of the transaction value, customer fees (including late fees), an initial establishment fee, and a recurring plan management fee.Initially available in Australia and New Zealand, Openpay expanded its operations to the UK in June 2019, followed by a US launch in December 2020 under the brand Opy. However, it withdrew from the UK BNPL market in March 2022 citing its inability to compete in the market. It also revealed that it will continue to offer longer-term repayment plans for dental procedures and car repairs in the UK through partnerships.Key customers and partnershipsIt entered the veterinary market in the US via a partnership with ezyVet, which provides cloud-based software for veterinary professionals, and its plans are expected to be available on ezyVet platforms by early FY2022 in the US. It partnered with contactless payments firm Everyware in <a href="https://sp-edge.com/updates/5954">October 2021 </a>to offer the first-ever Pay-by-Text BNPL solution, followed by a tie up with American Express in <a href="https://sp-edge.com/updates/7084">December 2021 </a>.Openpay secured a strategic partnership with the payments processor Worldpay and Cross River Bank. As a result, Openpay’s payment plans were integrated with Worldpay’s payment gateway as the merchant acquirer for Openpay in the US, while Cross River was expected to serve as <a href="https://sp-edge.com/updates/5806">Openpay’s lender </a>for consumer financing loans to US customers, meaning it will fund and originate all loans on Openpay’s US platform. However, in July 2022, Openpay announced that it’s ceasing operations in the US market owing to economic headwinds stemming from rising interest rates and deteriorating consumer sentiment.

Openpay

PrimaHealth Credit (PrimaHealth) is a BNPL solution designated for elective medical procedures such as cataract surgery, orthodontic work, dental care, LASIK, and addiction treatment. PrimaHealth’s credit decision-making is handled in-house using proprietary credit underwriting models. With PrimaHealth, patients would pay 25% to 50% of the cost upfront, and the residual cost, running from USD 300 to USD 24,000, can be repaid over 2-4 months. PrimaHealth’s interest rates range from around 0% to 25% APR with an average loan size of USD 1,800 across all types of procedures.As of December 2020, PrimaHealth was available in Arizona, California, Florida, Oklahoma, and Texas, and plans to expand across all 50 states by 2021.

PrimaHealth Credit

Laybuy is a New Zealand-based BNPL provider offering its services in Australia, the US (beta launched in December 2020), and the UK through a partnership with the streetwear retailer Footasylum in 2019. The platform partners with Experian, a multinational credit bureau, to help with its credit decision-making. Through Laybuy, users can make online or in-store purchases over six weekly payments with no interest charges if paid on time. The in-store offering is facilitated by Laybuy’s “Tap to Pay'' digital card, available in Australia and New Zealand as of March 2021 and launched in August 2021 in the UK. The platform has an average customer transaction limit of GBP 240, and any missed payments will result in the user account being suspended and a late fee of USD 10.In FY2022, the platform reported gross merchandise volume (GMV) of NZD 868 million (~USD 600 million), reflecting 47% YoY growth. The platform’s revenue grew by 45% YoY to NZD 47.1 million (~USD 32.8 million). The UK operation accounted for the majority (~60%) of GMV in FY2022, improving on its ~50% share last year. The company also revealed that total active customers increased 23% YoY to 931,000, while total active merchants grew 50% YoY to 13,700. Laybuy was listed on the ASX from September 2020 to March 2023, after which it was <a href="https://sp-edge.com/updates/15915">delisted</a>.Laybuy issued <a href="https://sp-edge.com/updates/30597">receivership notice</a> in June 2024 due to financial pressures and economic challenges affecting its operations in New Zealand and Australia. The company stated that Laybuy Group Holdings Limited, Laybuy Holdings Limited, and Laybuy Australia Pty Limited were placed for receivership on 17 June and that its UK entities remain unaffected.Key customers and partnershipsIn May 2023, <a href="https://sp-edge.com/companies/976316">​​ </a>Laybuy collaborated with New Zealand-based Centrix, a credit bureau, to develop a credit reporting system, <a href="https://sp-edge.com/updates/18326">PayWatch </a>. The company also <a href="https://sp-edge.com/updates/18595">partnered with Eventfinda </a>, an event ticketing and marketing platform, to embed its BNPL solution and offer flexible payment options for event tickets. Laybuy secured partnerships with merchants such as Rakuten, AWIN, and Sovrn, giving users access to more than 5,000 merchants in the UK, including WHSmith, Asos, Nike, Marks &amp; Spencer, Amazon, and eBay.

Laybuy

Tamara is a Saudi Arabian BNPL platform provider offering customers the option to pay in 30 days or in three installments over 60 days at zero interest, making it Shariah-compliant. Tamara settles payments with merchants weekly for a commission-based fee, charging a late payment penalty of SAR 25 (approximately USD 7) from customers. These charges are capped at a lower rate between SAR 150 or 25% of the total transaction value. In September 2020, Tamara established a partnership with the e-commerce platform Salla, extending its reach to more than 10,000 merchants on the platform. As of June 2021, it operates in Saudi Arabia and the UAE with offices in Germany and Vietnam. In July 2023, Tamara <a href="https://sp-edge.com/updates/19954">secured a permit </a>to operate its flexible payment services from the Saudi Central Bank following a trial period of operation within the Saudi Arabian regulatory framework.Key customers and partnershipsThe company claims to be the market leader in the BNPL space in Saudi. It reported that its transaction volume grew 170% month-on-month and its customer base increased 180% month-on-month over the six months preceding its Series A round. As of January 2023, the platform had serviced over 9 million registered users and had over 30,000 merchant partners, including partnerships with firms such as IKEA, Jarir, Shein and Namshi.<a href="https://sp-edge.com/updates/27305">In March 2024</a>, Tamara partnered with UK-based <a href="https://sp-edge.com/companies/615710">Uqudo</a>, a digital identity verification platform, to enhance privacy and security on digital transactions. <a href="https://sp-edge.com/updates/25271">In January 2023</a>, the company partnered with Egypt-based <a href="https://sp-edge.com/companies/497895">Paymob</a>, a payment gateway platform, to provide an integrated solution that facilitated installment payments for customers in the Gulf Cooperation Council (GCC) region.Funding and financialsIn <a href="https://sp-edge.com/updates/24016">November 2023</a>, Tamara secured up to USD 250 million in debt financing from Goldman Sachs and Shorooq Partners. It comprises an incremental debt financing of USD 200 million of senior debt provided by Goldman Sachs (bringing its senior warehouse facility up to USD 350 million, an increase from USD 150 million raised in <a href="https://sp-edge.com/updates/17139">March 2023</a>) and USD 50 million mezzanine tranche led by Shorooq Partners, which brings the total warehouse facility up to USD 400 million. The company earmarked the funds to service its growing BNPL product demand and invest in developing new products and services.

Tamara

Fly Now Pay Later is a UK-based consumer credit provider regulated by the Financial Conduct Authority. The platform provides its services exclusively to the travel sector through a direct-to-consumer app (Anywhere) and an integrated checkout solution. The platform allows consumers to spread the cost of travel over a maximum of 12 months, with a limit of GBP 3,000 (approximately USD 4,200). The plans’ interest rates vary depending on the applicant's borrowing history; therefore, users may incur a one-off credit transaction fee. The payment plans can be applied to flight bookings, hotels, and car hires.The company has partnered with travel brands such as Lastminute.com, TravelUp, Kayak, LycaFly, and Trivago.The company secured GBP 55 million (approx. USD 75 million) in <a href="https://sp-edge.com/updates?industryIds=58">debt funding </a>from Atalaya Capital Management. The round follows its extended Series A round worth GBP 10 million (approx. USD 14 million) in May 2021. The debt infusion is earmarked to support its expansion efforts in the US, which it entered into in 2020.

Fly Now Pay Later

The providers plug into merchant checkouts and convert business purchases into installments.

These platforms integrate with the merchant’s e-commerce checkout and primarily offer the BNPL solution through their app. Consumers are restricted to shopping at merchants integrated with the provider in most cases.

These providers integrate with the merchant’s e-commerce checkout. The service is offered through the provider’s app or a virtual card that facilitates in-store application, including non-partnered retailers.

These companies offer merchants and financial institutions a white-label product to provide in-house BNPL solutions.

Solutions can use AI/ML to improve the quality of underwriting tools used in assessing consumers

Use of blockchain technology for customer screening is an emerging area

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

PROMINENT_CATEGORY

<div>
 
 UK's open banking payment infrastructure platform, Volt, has entered a partnership with Bumper, a UK payment platform for car dealerships. The collaboration aims to utilize Volt's open banking abilities to enable real-time payments in the UK, Spain, Germany, Netherlands, and the Republic of Ireland. 
 This partnership will aid Volt in broadening its product reach by driving Bumper's "Pay Now" feature. This will allow quick resolution of payments, real-time transaction tracking, checkout flow and pay-by-link options, and will also simplify Bumper's planned growth into other European markets by making use of Volt's global payments network. 
 At present, Bumper collaborates with over 5,000 car dealerships and manages payments of over 500,000 drivers’ vehicle repair and service bills. 
 
</div>

Bumper

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