🌍 Global Expansion
OnBuy, founded in the UK, is preparing for rapid global growth, with expansion into 14 EU countries by the end of 2024. In 2025, the company plans to enter North America. OnBuy’s CEO, Cas Paton, states that their innovative platform aims to disrupt the e-commerce industry with its customer-first model and cashback offerings. Over 6 million customers in the UK have benefited from over £1.6M in cashback. The company plans to scale its footprint tenfold in the next few years.
💻 Google Cloud Partnership
OnBuy has partnered with Google Cloud, leveraging its scalable infrastructure to reduce costs and improve customer experiences. With Google Cloud, OnBuy will provide faster, more secure checkouts and flexible options for sellers. This partnership allows the company to expand globally while keeping infrastructure costs low, a key element for maintaining competitiveness in an increasingly crowded online marketplace.
💸 Cashback Innovation
OnBuy’s cashback model is at the core of its growth strategy. Offering up to 15% cashback, the marketplace provides immediate savings without the need for third-party tracking. This cashback feature is already popular in the UK and is expected to attract more customers across Europe and North America. CEO Paton sees this model as a game-changer that will help OnBuy stand out against bigger rivals by adding value to customers during tough economic times.
📈 Investment and Growth
In 2024, OnBuy secured a £2.5M investment, enabling its international push. This funding, along with being named in the FT1000 list for three consecutive years, highlights its potential. OnBuy’s approach of balancing seller and customer benefits has helped it thrive in the UK, and now it’s ready to challenge e-commerce giants globally. Paton emphasizes that their customer-focused strategy, combined with tech-driven innovation, positions OnBuy as a strong competitor in the global marketplace.
Will OnBuy's cashback model disrupt e-commerce giants?
