Digital & IT

Bournemouth's OnBuy features in Deloitte's Technology Fast 50 awards again

Cas Paton, Founder and CEO, OnBuy

By Giles Gwinnett [email protected]

Published: November 22, 2023 | Updated: 22nd November 2023, the Bournemouth-based online marketplace, has been named one of the UK’s fastest-growing tech companies in Deloitte’s Technology Fast 50 for the third year in a row.

OnBuy logo

The company, which was ranked 11th for the second year running, was also named ‘Fastest-Growing Tech Business in the South West’.

It comes after the firm recently said it will begin the first phase of an international roll-out following the strategic investment from a Nasdaq-listed global tech firm.

“This year has been a complete transformation for OnBuy. We achieved our first ever profitable month in October and we’re confidently forecasting a profitable quarter, which is huge,” said founder and CEO Cas Paton.

“We’re in the strongest position we have ever been in, which has allowed us to secure strategic investment from new and existing parties that will help us to ‘scale out’ at pace. We’re also exploring the possibility of opening a small round for external investors, our sellers and customers via crowdfunding,” he added.

The company has achieved a growth rate of 3,263% over the last four years.

OnBuy says it has taken a ‘unique approach’ to rewarding its customers, shunning traditional loyalty schemes and introducing an industry-first Cashback model, which allows consumers to earn instant Cashback on everything they buy.

It says the initiative was “years in the making” and is proving “disruptive” in the industry as the company pursues its vision to change eCommerce for the better.

“When we launched OnBuy, I came up against a lot of industry nay-sayers who felt it was unviable due to the level of competition in the market from the likes of Amazon and other global giants,” said Paton.

“But sellers and customers are ready for change, and, if anything, we launched at exactly the right time, proven by our outstanding and consistent growth.”

“To feature in these prestigious awards for three consecutive years just shows the appetite for a marketplace that does things differently, and proves to those who doubted us in the early years that OnBuy has truly landed and is only going to keep getting bigger and better.”

Read next: “Incredibly proud” says Cas as OnBuy is ranked Europe’s fastest-growing eCommerce business

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