OnBuy’s 2023 rewind: Our most exciting year to date, and we’re just getting started...

2024 is already off to a flying start, but before we get too excited about all the amazing things to come, we wanted to take a moment to reflect on the past year. As a business, it’s been our best yet, and we’re so proud to have achieved some of the biggest wins in our history, from record-breaking sales to industry-first launches. 

Let’s take a look at our 2023 highlights: 

We ranked as Europe’s fastest-growing eCommerce company in the FT1000 

OnBuy reached a significant milestone in March last year, being recognised as Europe’s fastest-growing eCommerce company in the esteemed FT1000 list. 

Having achieved a remarkable growth rate, we were thrilled to secure the 25th spot overall, jumping a whopping 306 places since 2022! 

We opened our doors to new sellers by launching direct bank payments 

April brought about one of our most exciting announcements to date, as we introduced WorldFirst, Payoneer, and direct payments into UK bank accounts for the first time since launching in 2016.  

Moving away from PayPal as our exclusive payment provider, this update meant that we could cut out the middleman and pay our sellers directly, with no separate transaction costs, high international fees, or complex policies for them to worry about. 

We opened our checkout to the payment options customers want 

Responding to consumer demand for more choice and convenience at the checkout, we were thrilled to partner with a variety of popular payment options last year, including Klarna, Clearpay and Apple Pay, to sit alongside PayPal, Visa and Mastercard.  

With Klarna, customers have the choice to pay in full immediately, spread the cost over three equal payments, or pay up to 30 days later, without any interest or fees.*  

With Clearpay, they can split their payments into 4 interest-free instalments, paid over 6 weeks.**  

And finally, with Apple Pay, shoppers can pay for their favourite products in seconds, simply by adding their credit or debit card to the Wallet app on their iPhone. 

What does all this mean for our sellers? Not only the chance to tap into more sales, but also the opportunity to expand their reach, thanks to the millions of active global consumers available. 

That's not even the best part! We've got even more releases set for 2024... so watch this space! 

We became the world’s FIRST Cashback marketplace 

The launch of OnBuy Cashback marked the biggest and most exciting milestone in our story to date, delivering another huge reason for customers to choose OnBuy, again and again. 

With the ability to earn instant Cashback on every item they buy, every single time, this industry-first proposition is truly unique, bucking the trend of only giving new customers the best deals.  

We wanted to give back to our OnBuyers with offers that reward loyalty in a tangible way, without codes or catches, meaning they have a real impact on peoples’ pockets. 

As our founder and CEO, Cas Paton, said: 

“We’re determined to disrupt the eCommerce status quo and give the power back to the people rather than the platforms which have been exposed for taking advantage of their customers and sellers. So many loyalty schemes offer perceived value that in reality gives customers little reward; some even charge for their benefits, so it was important to give back to our customers in a way that could make a real difference. Amazing choice, the brands people love and instant Cashback on everything they buy - all in one place. Simple. It really pays to shop at OnBuy.  

“During the cost-of-living crisis every penny counts, so easing the pressure on customers’ pockets will make a big difference. This new level of convenience has the potential to change the way that we shop for everything from the everyday to the extraordinary, and this change in buying behaviour will also have a positive knock-on effect for our sellers. It’s a win-win.” 

Forget expensive subscription costs and waiting around for cashback to mature. With OnBuy, not only can our customers get instant Cashback on everything they buy, but they can also choose how to use their earned cash; by spending it on-site straight away, saving up for something special, or withdrawing it into their bank account after 30 days, as long as they have a balance of £5 or more.  

All shoppers need is an OnBuy account to enjoy exclusive offers they won’t find anywhere else - straight to their inbox. Simple! It’s all part of our promise to provide real value where it matters most, changing the way consumers shop for the better. 

We launched our first-of-its-kind seller referral scheme 

Helping to turn contacts into cash, OnBuy Seller Referral allows anyone to financially benefit from introducing fantastic sellers to our platform. And when we say ‘anyone’, we really mean anyone! 

Having previously been reserved for industry affiliates only, we opened our referral scheme to both businesses and individuals in August, regardless of whether they work within retail, are an agency, or simply have contacts in the industry. 

Anyone who recommends a UK- or EU-based seller to OnBuy will get 10% of our revenue share on everything they sell in the first year! The best part? There’s no limit to the amount of sellers that can be referred!  

Check out our dedicated OnBuy Seller Referral page to find out more. 

We achieved our first ever profitable month 

October saw us reach new heights as we achieved our first EVER profitable month since our inception in 2016, leading to a profitable quarter. We are in the strongest position we’ve ever been in and are now ready to accelerate our overseas expansion following strategic investment from new and existing parties, including a Nasdaq-listed, global tech firm. 

We were named a winner in the Deloitte Technology Fast 50, for the THIRD consecutive year 

In November, we were thrilled to hear the news that we’d been named one of the UK’s fastest-growing tech companies in Deloitte’s prestigious Technology Fast 50, featuring in the list for the THIRD consecutive year! 

Ranking 11th for the second year running, while also securing the title of ‘Fastest-Growing Tech Business in the South West’, it was a huge win for us, clearly demonstrating a consistent benchmark of success. 

We launched OnBuy Media 

Powering our sellers' growth both on- and off-site, OnBuy Media includes a brand-new marketing platform, OnBuy Ads, and a new and improved version of an OnBuy favourite... Boost. 

OnBuy Ads

OnBuy Ads gives our sellers access to the most prominent and relevant placements on our site, showcasing their products to millions of shoppers actively seeking what they offer. As part of our commitment to create a level playing field, the Ads system is accessible to sellers of all sizes, providing a user-friendly dashboard that allows campaigns to be easily created and optimised to suit any budget.  

If that wasn’t enough, Ads also operates on a cost-per-click (CPC) basis, which means that sellers will only pay their chosen amount when a customer clicks on their product ad. 

New and improved Boost

Sitting alongside Ads, Boost is bigger and better than ever! With our new update, it’s now even easier for our sellers to promote their products on external channels and grow their sales, 100% risk-free! 

Powerful on their own - and even stronger when used together - these tools can help to drive substantial sales growth, effortlessly. 

So, what’s next for OnBuy? 

If you thought last year was big, just wait and see what we have in store for 2024! Plans are in motion to kickstart our international expansion, and we have even more projects on the way that are set to take the shopping and selling experience on OnBuy to a whole new level!  

Get ready, 2024. The best is yet to come... 

*Klarna's Pay in 3 / Pay in 30 days are unregulated credit agreements. Borrowing more than you can afford or paying late may negatively impact your financial status and ability to obtain credit. 18+, UK residents only. Subject to status. Late fees may apply. T&Cs apply. 

**Please use Clearpay responsibly. Clearpay lends you a fixed amount of credit so you can pay for your purchase over 4 instalments, due every 2 weeks. You must be 18+ and a permanent UK resident (excl Channel Islands). T&Cs and other eligibility criteria apply. 

Ensure you can make repayments on time. Clearpay charges a £6 late fee for each late instalment and a further £6 if it’s still unpaid 7 days later. Late fees are capped at £6 for orders under £24 and the lower of £36 or 25% of the order value for orders over £24. Missed payments may affect your ability to use Clearpay in the future and they may pass unpaid debt to a debt collection agency.