Online marketplace OnBuy has been ranked as Europe’s fastest-growing e-commerce business.
The Dorset tech firm has reported a rise in revenue of around 3,400% since 2018 which has seen it claim 26th spot on a list of 1,000 expanding European companies compiled by The Financial Times, and named the fastest in its sector.
The Bournemouth-based business, which currently has around six million customers and stock more than 35 million products, placed 331st on the same list last year.
Chief executive Cas Paton, who founded OnBuy in 2016, said its inclusion on the list was “a benchmark of success”, resulting from enhanced brand and customer recognition, as well as visibility with potential investors.
Mr Paton said: “I’m incredibly proud of the whole OnBuy team and the brilliant work that we have done as a group to get into this position.
“I attribute the business’ strong growth to our collective commitment to providing a fairer ecosystem for both sellers and buyers. 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.”
The entrepreneur added that the firm was set to reveal “a series of incredibly exciting innovations” that would help it to build “a better, stronger marketplace”.
The FT ranking comes just months after OnBuy placed eleventh on the UK Technology Fast 50 2022, Deloitte's prestigious ranking of the UK's fastest-growing tech companies - claiming top spot for the South West region industry-wide.
Amid the gradual emergence from the Covid-19 pandemic in 2021, OnBuy recruited more than 80 new staff members, grew the number of sellers on its website by more than 50%, and secured £35m of investment during a series A funding round.
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