Last Updated on: 22nd November 2023, 03:39 am
- UK-based brand places 25th in the 2023 FT 1000
- The annual Financial Times list ranks Europe’s fastest-growing companies
- OnBuy has grown by over 3000% with a pledge to provide a better, fairer choice for retailers and consumers
British online marketplace OnBuy.com has been ranked as Europe’s fastest-growing eCommerce business following the publication of the FT 1000.
The annual list, announced for 2023 yesterday, reports the latest annual ranking of businesses by revenue growth across Europe.
UK-based OnBuy has boomed since launching, making enormous ground in revenue and growth, to place 25th on the much-respected list – after achieving a remarkable 3402% growth since 2018.
Today’s 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.
Spearheaded by CEO Cas Paton, the site currently has around six million customers, with over 35 million products onsite from a wide range of sellers across a huge range of categories, with everything from collectables and memorabilia to tools and DIY.
Today’s ranking comes less than six years after OnBuy’s launch in 2016, when Paton pledged to create an online marketplace that provides a better, fairer choice for retailers and consumers.
The business sets itself apart from other marketplaces, refusing to compete with onsite sellers by not stocking any of its own inventory – providing a fair, transparent and open marketplace for all.
Entrepreneur Paton says OnBuy has no conflicting practices or any concerns over what is selling, other than supporting its retailers.
He added that inclusion in the FT 1000 represents a benchmark of success resulting in enhanced brand and customer recognition – as well as visibility with potential investors.
Paton said: “Inclusion on the FT 1000 as Europe’s fastest-growing eCommerce business is the culmination of a lot of hard work.
“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.”
He added: “But this is just the start for us. We’re on the verge of unveiling a series of incredibly exciting innovations that will help bring us even closer to our sellers and our customers allowing us to build a better, stronger marketplace for the future.
“Today’s ranking represents a springboard for us to take the next big step in our journey – there’s lots more to come!”