OnBuy - The world's first Cashback marketplace, ranked one of Europe's fastest growing companies.
Business overview
Location | Bournemouth, United Kingdom |
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Social media | |
Website | www.onbuy.com |
Sectors | Advertising & Marketing Digital Mixed B2B/B2C |
Company number | 09108414 |
Incorporation date | 30 Jun 2014 |
Investment summary
Business highlights
- Over 6 million UK customers
- Only marketplace to offer Cashback on everything
- £150m GMV run rate sales and 3263% growth*
- Three time Deloitte Fast 50 and FT1000 winner
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Idea
Introduction
OnBuy is the world's first Cashback marketplace, where you can shop for your favourite items from thousands of retailers, while earning instantly redeemable Cashback on everything you buy! Convenience, choice, competitive prices and rewards. Everything you love about online shopping - all in one place.
We're on a mission to change online retail for the better, providing a fair deal for sellers and a simple, enjoyable and rewarding experience for shoppers.
With over 6 million UK customers, 3263% growth between Jun '19-Jun 22, and £150m GMV run rate sales (based on sales from Jul-Dec 23)*, we think it's safe to say that people are open to change!
We believe that we're in the strongest position we've ever been in, and if you're wondering what would happen if we took OnBuy international, you won't have to wait long to find out!
Our expert team is preparing the first stage of our overseas roll out right now! We have 10 countries earmarked for 2024, backed by strategic investment from a NASDAQ-listed global techfirm to support the expansion.
We're also launching plenty of new innovation at home, including exclusive high percentage Cashback offers on a huge range of products and exciting rewards for our loyal OnBuyers. Why would you want to shop anywhere else?
There's never been a better time to OnBuy into it!
Monetisation strategy
OnBuy is an online marketplace platform that connects sellers with consumers.
The business earns revenue principally from charging its sellers a percentage commission on each successful product sale. Commission rates vary by product category and range between 7% and 13.5%.
OnBuy also earns monthly revenue from seller subscription fees and optional advertising services.
It forecasts to grow its ‘take rate’ in the future through the introduction of additional advertising products, and through value-add international services for sellers.
The business had a profitable Q4 2023 (operating only in the UK). OnBuy aims to grow sales volumes on the site, whilst utilising its proprietary technology platform to keep operating costs low.
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