Seed13 July 2021

OnBuy secures £35m in series A plus funding to scale its marketplace platform and pursue global expansion.

The £35m round features backing from Bring Ventures, Fuel Ventures, and other strategic investors.

£35.0MSeed

OnBuy operates an online marketplace that hosts millions of products from thousands of retailers without competing against them. The Bournemouth-based firm provides a transparent platform designed to support sellers of all sizes.

OnBuy has secured £35m in a series A plus funding round comprising a mix of debt and equity. The fresh capital was backed by strategic technology investors, including Bring Ventures, Fuel Ventures, Guy Hands, Knut Frängsmyr, and Richard Goulding. The funds will be directed towards product development and international expansion as the company targets unicorn status.

Founded in 2016, the platform has scaled rapidly, reaching £155m in annualised gross merchandise value prior to this raise. The company previously raised £5m in 2020 led by Fuel Ventures. Alongside external investors, the latest round includes a £2m allocation set aside for existing retailers using the platform.

From the founder

"I created OnBuy to provide something unique: a clear, level playing field – and in our 4 years of rapid growth, it’s clear to see that this is a model that works to everyone’s advantage."

Cas Paton

CEO at OnBuy

Investor perspective

"OnBuy has experienced tremendous growth and we believe the company has a very promising future ahead. We look forward to being a part of OnBuy’s continued growth through this venture investment that we believe will strengthen our portfolio of e-commerce activities."