Online marketplace OnBuy, recently named the UK’s fastest-growing company, has announced scale-up plans into over 140 countries by 2023, starting with 40 initial sites by year-end 2020.
The Dorset company recently announced 24,000% growth in just 4 years, with a reported 600% revenue growth year-on-year for the second year running.
It is now targeting territories that other marketplaces have been unable to reach, with a business model focussed on competitive seller fees and promising merchants never to hold competing stock.
Cas Paton, OnBuy’s founder and CEO, said the platform has around 25 million live products in the UK, with 525 million products ready to roll out internationally.
“The scope of this scale-up is immense, and we aim to double our product numbers in the first 12 months.
“Our move into global territories starting in November and continuing over the next 18 months is seen as the delivery of our global marketplace solution – a move that will establish OnBuy as a first-of-its-kind global player. We’ve worked very hard to create the world’s first global marketplace.
“We’re not just about big brands and big business: the core value of our business model is to support businesses of all sizes – and we support small UK businesses to help make them visible to a wider audience.”