London, 01 March 2022: E-commerce marketplace OnBuy has made the Financial Times 1000, a list of Europe’s fastest-growing companies that ranks businesses by revenue growth.
Recording a 479% increase in revenue growth between 2017 and 2020 secured OnBuy’s 331 spot. Being listed in this high-profile ranking top off an incredibly successful 2021 for Bournemouth-based OnBuy, seeing product listings hit over 36 million. OnBuy is set for further growth in 2022 with plans of expansion and a roadmap of major product developments, further improving its services to its retailers and customers alike.
ONBUY’S KEY HIGHLIGHTS IN 2021
● OnBuy recruited a new leadership team to continue to develop the fast-growing brand.
● OnBuy recruited 82 new staff members in 2021.
● 51% increase in sellers on the marketplace, with over 11,000 selling through the site.
● Secured £35 million in series A+ funding round through VC and strategic technology investors.
● 71% increase in live product listings, with more than 36 million products available to buy on the website.
● Recognition in Deloitte’s Fast 50 as the fastest growing company in the Southwest and Wales.
● OnBuy celebrated its 5th birthday last year reporting continued annual growth in revenue despite a market decline.
● Sacrificing 85% of their commission fees on Black Friday so sellers could offer great promotions without losing margin.
● Rewarding its 100+ staff with share options equal to 25% of their annual income, totalling more than £1 million.
● New headquarters in Bournemouth City Centre providing a hub for its growing team.
OnBuy was born out of a need to support retailers who were finding themselves competing with marketplaces, rather than working in partnership with them. Since its inception, OnBuy has continued to scale at speed, and is proud to be partnered with over 11,000 retailers, from small independents to big named brands, connecting them with the millions of consumers using the website.
OnBuy has big plans for the future too, which will include some milestone product developments to continually enhance its shopping experience and expanding its team to better it’s retailer service. In addition, OnBuy’s much anticipated market expansion is in the works, which will continue to fuel its growth and solidify its position as the fair marketplace for everyone, everywhere.
Cas Paton, CEO and Founder of OnBuy said, “Being listed in the FT1000 is a huge achievement for OnBuy and I am incredibly proud of the whole team, who has contributed to our success. We can attribute our growth to our commitment to providing a fairer ecosystem for both sellers and buyers, with a simple flat fee structure and a rapidly growing range of products, giving consumers value and convenience. It’s really important to us as a company that our values remain consistent with fairness and transparency always at the heart of the business. We’re growing rapidly and I am excited to see what this year holds for us”.