Series A8 July 2020

OnBuy secures £5m Series A funding led by Fuel Ventures to drive global expansion.

The online marketplace has raised £5m from Fuel Ventures and other investors to fund a rollout across 140 new territories.

£5.0MSeries A

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 £5m in a Series A funding round led by Fuel Ventures, with additional backing from experienced investors such as Nathalie Gaveau. The company intends to deploy the capital to support its aggressive international expansion across 140 new territories, including the US, Germany, France, Spain and the UAE, alongside scaling its operational capabilities.

The marketplace has experienced a substantial rise in trading activity, reporting an annual sales increase of 1100 percent and expanding its team to over 50 full-time employees. Founder and chief executive Cas Paton plans to scale operations further as the firm prepares for global deployment this summer.

From the founder

"The injection of this additional funding not only allows us to substantially grow the operational side of the business, but it gives the OnBuy team backing from phenomenal investors who can bring an array of eCommerce experience and expertise to the table, bolstering an already strong globalisation strategy."

Cas Paton

CEO at OnBuy

Investor perspective

"In recent years the VC world has largely turned its back on marketplaces. They are notoriously hard to build and even harder to grow, given that the market is dominated by some of the largest companies in the world. However, it’s clear from seeing OnBuy’s unique model, their achievements to date and the impressive year-on-year growth that they have found the right formula for long-term success."