Digital & IT

Bournemouth-based marketplace OnBuy nears halfway mark in £1m Seedrs campaign

Cas Paton, Founder and CEO, OnBuy

By Daniel Face [email protected]

Published: May 2, 2024 | Updated: 2nd May 2024

Online marketplace OnBuy has so far sold £430,000 worth of shares in an ongoing fundraiser on crowdfunding site Seedrs.

The Bournemouth business serves more than 6 million UK customers and has thrice landed on both the Deloitte Fast 50 and Financial Times’ FT1000, off the back of 3263 per cent growth between June 2019 and June 2022.

It’s now running a secondary campaign on Seedrs, whereby investors are invited to purchase shares at £0.464 apiece from existing shareholders.

OnBuy is aiming to sell £1 million in shares over the next 29 days to fund expansion overseas, with launches in ten new countries planned for this year.

Reflecting on a successful 2023, CEO Cas Paton said recently: “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.

“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.”

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