OnBuy is gearing up for a significant international growth phase, with an expansion planned for 14 countries by the end of 2024.
Having already delivered eight years of continuous growth in the UK and attracted significant domestic and foreign investment, the British-born challenger brand is now continuing its long-term growth strategy with an international roll-out beginning in the EU before the end of the year and continuing with North America in 2025. The company anticipates substantial growth from its increased footprint – in excess of 10 times over the next few years.
As a pure tech product, OnBuy owes its ability to rapidly scale across the world to the fact that it’s able to keep infrastructure costs low, leveraging the footprint of retailers and their channel management and fulfillment partners.
The news comes on the heels of OnBuy’s recently announced Google Cloud partnership, which will enable the business to expand internationally with modern, scalable cloud infrastructure that will improve both seller and customer experiences, reduce costs and enable new revenue streams. The partnership will enhance operational efficiency and provide customers with faster and more secure checkout experiences, and greater flexibility, whilst enabling the marketplace to grow around the globe.
OnBuy’s point of difference is the secret to our ongoing success. We balance seller and customer benefits to deliver an online marketplace that’s fair for all.
Our cashback proposition is game-changing for retail. As an impartial online marketplace, we’re proud to connect sellers with over 6 million customers and are eager to expand this number even further. Having already awarded over £1.6M in cashback across the UK to date – we are now primed to deliver tangible cumulative value to customers across Europe and North America.
We plan to use our new international footprint to build customer awareness of a smarter way to shop; immediate cashback guaranteed, with no third parties, tracking, or privacy issues
Now is the perfect time for an innovative disruptor like OnBuy to challenge the leading brands with a fresh viable customer proposition. With global economic conditions putting increasing pressure on sellers and customers alike, our unique cashback model is the key to additional value.
– Cas Paton, CEO and Co-Founder, OnBuy
This year alone, OnBuy has secured a £2.5m strategic investment led by a global tech firm, featured in the FT1000 list for the third consecutive year, and launched cashback deals offering up to 15% cashback. Having taken on the dominant e-commerce giants in the UK, OnBuy will now utilise its tech-driven innovation and customer-focused approach to build market share internationally as the business continues to shake up the industry.
