Fruugo grows 110% in full year 2022

Category: Data & Insights
Fruugo grows 110% in full year 2022

Fruugo has been placed 41st in the FEBE Growth 100, the list of Britain’s fastest-growing, founder-led private companies. The Growth 100 celebrates British business at its best – highlighting founders that are driving their companies to deliver significant sales, revenue and profit, against a backdrop of unprecedented economic challenges.

Fruugo Proposition

Fruugo is a unique UK global online marketplace platform. It currently has 170 employees helping over 3,000 online retailers sell products to 7 million shoppers a year in 42 countries, 31 currencies and 28 languages.

Selling on Fruugo enables retailers and brands to acquire orders from a rapidly growing base of cross-border shoppers and gain insights into product demand in foreign markets. Fruugo actively markets retailers’ products in 46 countries, using an ever-expanding network of affiliated and partner sites. What this means is that your products will be put in front of consumers who perhaps don’t use local marketplaces you may list on.

Fruugo is a no sale no fee proposition, and they handle all translation and payments to localise the shopper’s experience wherever they are in the world. You get paid the price you set in UK currency making it the ideal marketplace to discover where consumer demand for your products are before investing in localised websites or launching on local marketplaces.

Fruugo grows 110%

The company has continued its track record of sustained and exceptional growth over the last year, achieving revenue growth of:

  • 110% in FY22 versus FY21
  • 230% versus FY20.
  • The business has grown revenue almost tenfold in the period of FY18 to FY22
  • Representing a compound annual growth rate (CAGR) of 77% (FY18 to FY22)

This strong performance reflects the quality and scalability of Fruugo’s platform and technology, its market-leading data science expertise, and its continued long-term growth in global cross-border ecommerce.

We’re delighted to be included in the FEBE Growth 100 for 2023. We are proud to be both a profitable and fast-growing company with ambitious plans for further international expansion. After a record-breaking year of growth, we’re pleased for this success to be recognised and the Fruugo team is working hard across the globe to ensure our exceptional growth trajectory continues this year and beyond.

– Dominic Allonby, executive chairman and founder, Fruugo

FEBE Growth 100

The FEBE Growth 100 list shows a spread of entrepreneurial success throughout the UK including 26 companies in London; 13 companies in the South East; 11 in Yorkshire, 9 in Scotland and 8 in the East Midlands. Women are founders or co-founders of nearly a third of all winning companies with the exact ratio of men to women founders standing at 68% to 32%.   

To be on the list, businesses must be UK registered, independent and unquoted, meeting the following criteria:

  • Sales between £3m and £200m
  • Trading for at least three years
  • An operating profit in the latest financial year
  • Founder(s) must still be involved

The ultimate ranking of 100 was data-driven, with companies ordered by compound annual growth rate (CAGR) in sales over the last three financial years. Businesses were initially selected by either nominating themselves or through FEBE contacting them directly, as well as by accessing publicly available financial information.

In addition to the main list of 100, FEBE’s Watch List sits alongside the Growth 100 to celebrate businesses that do not meet all of the Growth 100 criteria, but have an amazing growth story and are achieving great things.

We’re so excited to publish this year’s Growth 100. So many people think that business founders just ‘get lucky’ or think of an idea one day and are successful the next. But we know that the journey to success is anything but smooth. The Growth 100 celebrates those who have embraced the entrepreneurial roller coaster and who are now thriving as some of the fastest growing brands in the country.

– Charlotte Quince, founder, FEBE

I’m very proud to be part of something that celebrates and supports the very best British entrepreneurs and their companies. FEBE Growth 100 focuses on true entrepreneurialism. Founders are unique: their experiences, their vision and their resilience are unlike anything else. So, we want to celebrate these ‘dare to doers’ and shine a light on the incredible accomplishments of some of the finest and fastest-growing companies in the country.

– Jenny Campbell, Former Dragon’s Den Dragon and FEBE Growth 100 ambassador


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