OnBuy Raises £35M in Series A+ Funding
- OnBuy.com, a Bournemouth UK-based online marketplace, raised £35M in Series A+ debt and equity funding
- Backers included Bring Ventures, Norway Post venture arm, Fuel Ventures, Guy Hands, Knut Frängsmyr and Richard Goulding amongst other strategic investors
- In addition to external investment, a fully funded £2M allocation was set aside for existing retailers currently using the platform
- The company intends to use the funds to to expand its leadership team, further develop its product offering for both sellers and consumers, and pursue global expansion
- In four years, OnBuy has grown to £155M annualised GMV with only £8M in total investment until now
- Prior to this investment round, the company raised £5m in funding led by Fuel Ventures
