Toy market news

OnBuy secures £35m in series A funding to fuel global expansion and hit unicorn status

The UK online marketplace, OnBuy has secured a series A+ funding of £35 million through VC and strategic technology investors, putting the firm well on the way to achieving unicorn status.

OnBuy launched to the scene in 2016 with the mission of disrupting the eCommerce space and take on industry giants such as Amazon and eBay by ‘levelling the playing field’ for sellers looking to move to the online selling space.

The business has since attracted more than 7,000 retailers and plays host to some 36 million products on the platform. The Bournemouth-based company has aimed to make itself at ease with retailers, vowing never to compete with them, but ‘offer a fairer marketplace’ to host brands and products.

In just four years, OnBuy has grown to £155 million annualised GMV with only £8 million in total investment until now. The series A+ fundraising will now fuel further growth for the firm who has its sights firmly on achieving unicorn status in the coming years.