OnBuy have reported a 1300% year-on-year growth (March 2018 to March 2019). OnBuy added that during the beginning of the April the marketplace’s transactions were up 112%, compared to the first week of March 2019. They also saw a 600% increase in users joining the platform this month.
Cas Paton, founder OnBuy puts down the growth of revenue to collaboration with PayPal. He says that the payments provider’s level of security and protection brought a piece of mind to sellers and buyers.
“We’ve experienced a fantastic week to kick-start April and put our booming sales and growth down to continue fostering innovation to enhance the customer experience. At the end of last year, we announced our partnership with global online payment specialists, PayPal, which has really helped fuel our exponential growth. The move to PayPal means that our buyers and sellers benefit from a robust level of security and protection. We will continue to disrupt the sector by investing millions into OnBuy and will shortly be launching new services to revolutionise online retail across the country, details of which are yet to be revealed. Equally, we attribute our exponential growth to the fact that our selling fees are cheaper than Amazon, meaning sellers can price competitively and stay profitable whilst buyers can get the best deal. We make the lives of our sellers as easy as possible by continuing to bring new integrations on board, such as ChannelAdvisor, Linnworks, Storefeeder, Royal Mail Click & Drop and plenty of others.”
– Cas Paton, entrepreneur and founder, OnBuy
OnBuy report about 8m customers and 12m products listed online over thousands of categories. The marketplace are aiming to expand to more than 140 countries by 2022. They also said they will be introducing new services for merchants in their ongoing push to “revolutionise online retail.”