OnBuy has started a global expansion plan. The company wants to launch into more than 140 countries by the end of 2023.
The plans follow after securing 5.5 million euros in a Series A funding round last June.Overall, 2020 was a successful year for OnBuy, which is on track for achieving unicorn status within the next two years.
The company is valued at an estimated 200 million euros after launching just four years ago. And last year, the marketplace achieved its third consecutive year of over 600 percent growth.
Founder and CEO, Cas Paton, comments:
“Securing unicorn status is not an easy feat, but our success so far proves it’s well within our grasp, In January 2020, our business was valued at over 7 million euros, but by March, within only three months, OnBuy was valued at 15 million euros. More recently, OnBuy has been valued at 200 million euros,, and so if we continue on this trajectory as we anticipate, the sky really is the limit.”
“Especially as we are already underway with our global scale up that will take OnBuy into over 140 countries before year-end 2023.”
The company has already beta-tested territory specific sites in 42 countries for expansion of the OnBuy platform.
