OnBuy Ranks in FT1000 Europe’s Fastest Growing Companies 2022
LONDON, March 1, 2022 /PRNewswire/ — E-Commerce Marketplace OnBuy made the Financial Times 1000, a list of Europe fastest growing companies which ranks companies based on their revenue growth. Recording a 479% increase in revenue growth between 2017 and 2020 secured OnBuy’s 331st place. To be listed in this top-tier ranking crowns an incredibly successful 2021 for Bournemouth-based on OnBuy, seeing product listings reach over 36 million. OnBuy is expected to continue growing in 2022 with expansion plans and a roadmap of major product developments, further enhancing its services to its retailers and customers.
ONBUY HIGHLIGHTS IN 2021
OnBuy has recruited a new management team to continue to develop the growing brand.
OnBuy hired 82 new employees in 2021.
51% increase in the number of sellers on the Marketplace, with more than 11,000 sales through the site.
Secured £35m in Series A+ funding round through venture capital and strategic technology investors.
71% increase in live product listings, with over 36 million products available for purchase on the website.
Recognition in Deloitte’s Fast 50 as the fastest growing company in the South West and Wales.
OnBuy celebrated its 5th anniversary last year, reporting continued annual revenue growth despite a market downturn.
Sacrificing 85% of their commission fees on Black Friday so that sellers can offer great promotions without losing margin.
Rewarding its more than 100 employees with stock options equal to 25% of their annual income, totaling over £1 million.
New head office in Bournemouth town center providing a hub for its growing team.
OnBuy was born out of a need to support retailers who found themselves competing with marketplaces, rather than working in partnership with them. Since its inception, OnBuy has continued to grow rapidly and is proud to be associated with over 11,000 retailers, from small independents to major brands, connecting them to the millions of consumers using the website.
OnBuy also has big plans for the future, which will include landmark product developments to continually improve its shopping experience and expand its team to improve its service to retailers. Additionally, OnBuy’s highly anticipated market expansion is underway, which will continue to fuel its growth and solidify its fair market position for everyone, everywhere.
Cas Paton, CEO and Founder of OnBuy said“Being listed in the FT1000 is a great achievement for OnBuy and I am incredibly proud of the entire team, who have contributed to our success. We can attribute our growth to our commitment to providing a fairer ecosystem for sellers and buyers. , with a simple fixed fee structure and a rapidly growing product line, providing consumers with value and convenience. It’s really important to us as a company that our values remain consistent with fairness and transparency always at the core. of the company. We are growing rapidly and I am excited to see what this year has in store for us.”
Founded in the UK in 2016 by Cas Paton, OnBuy has a simple vision: to be the best choice for every customer, everywhere. The brand has established itself in the e-commerce industry as a pure online marketplace that does not compete with retailers. This fair and transparent approach provides an exceptional experience for buyers by leveling the playing field for sellers.
Offering 36 million products, OnBuy gives thousands of verified online retailers the platform to deliver competitive pricing and exceptional value to customers. From household names to independent sellers, shoppers can safely shop products across a wide range of categories, including electrical, beauty, home & garden, toys, and baby supplies.
Trusted by millions of consumers and leading global brands, OnBuy’s mission is clear; it doesn’t compete, it partners with retailers. By understanding customers, OnBuy continues to deliver the shopping experience they want time and time again.
Website www.onbuy.com | LinkedIn- OnBuy.com | Instagram- @onbuy_gb | Facebook – @OnBuyGB | Twitter- @OnBuy
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