UK’s fastest-growing company opens investment round

Posted on May 15, 2020 by Alistair Hardaker

CEO Cas Paton

CEO Cas Paton

An online marketplace based in Poole, Dorset has been named the UK’s fastest-growing company among those with more than 250,000 monthly visitors.

OnBuy, which attracted three million visitors in April, has opened a £3m investment round after SimilarWeb’s April 2020 report also ranked it as the fastest-growing marketplace across all traffic levels.

It also ranked fourth in terms of total volume growth, only surpassed by online giants Etsy, Halfords and Apple.

The global marketplace doubled its workforce in April to more than 30 staff, with plans to extend operations to an additional 42 countries worldwide this August.

New head of marketing Josh Brooks and SEO manager Arvid Linde bring 30 years’ combined experience across global regions.

Cas Paton, founder and CEO, said: “I am thrilled to see OnBuy exactly where it should be: ranked alongside some of the world’s biggest brands and getting the recognition it deserves.

“We have an enormous growth journey ahead of us and this is just the start of what we see as a rapid scale up, overseas and within the UK.

“We’ve worked tirelessly to build a sophisticated marketplace that serves both customers and sellers equally, and now we’re reaping the benefits of that hard work.

“We’re proud to run a business that gives customers access to both big name brands and independent sellers at competitive prices, especially given the current reality.

“Our growth shows that both sellers and buyers are crying out for a different online marketplace experience, and we’re ready and excited to be able to give them that at OnBuy.com.”

Last month OnBuy chose to double its affiliate fees on all categories in response to Amazon cutting theirs, which has led to a 100% increase in publisher sign-ups.

The platform is now one of the world’s leading eCommerce marketplaces, offering competitive prices on millions of products supplied by thousands of online retailers.

It does not compete with its sellers, hold any stock or sell any of its own products; instead, it invests all of its resources in growing its loyal international customer base for the sole benefit of its sellers.

Since its inception, OnBuy has partnered with more than 5,000 sellers – from household name brands to independent retailers – and offers more than 24 million products to over 8 million customers.

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