Online marketplace for retailers OnBuy is in talks to secure office space in Manchester as part of a £10m investment into its expansion, creating at least 100 jobs in the area in the next two years.
The business, which is valued at £115m, is beginning a worldwide scale-up into over 140 countries by the end of 2023, starting with 42 initial sites by year-end 2020.
The news of OnBuy’s expansion comes as it reports a record-breaking week with nearly 1.5 million users browsing the site, resulting in nearly £2.75m in sales in the week commencing November 1 – an 837% increase in sales on the same period in 2019.
The OnBuy Manchester office is set to open in March 2021 with job roles being advertised in the spring.
Cas Paton, founder and CEO of OnBuy attended Manchester-based Urmston Grammar Sixth Form and Wellacre Technology College where he says his entrepreneurial spirit was born.
“I was web designing for companies by the age of 14, so the desire to run and grow a business has always been a part of me,” he said.
“I see Manchester as the UK’s second city in terms of size, but the number one city in terms of opportunity. That’s why I have dedicated £10m to open OnBuy offices in Manchester and grow our team here over the next two years.
“I now live back in Manchester with my family and I’m really looking forward to bringing OnBuy’s success back to benefit the area I was raised in.
“I have a lot to thank Manchester for; it’s an incredible city, bursting with talented people who are hungry to succeed. This makes it a natural location to help springboard OnBuy to a global audience.”
The firm is also gearing up to to launch its first national TV campaign with ITV.