UK-based online marketplace OnBuy has raised 35 million pounds in series A+ funding through venture capital and strategic technology investors.
The company said the investment, which is a mix of debt and equity, will enable it to further develop its product offering and pursue global expansion.
It said significant input came from Bring Ventures, Norway Post venture arm, Fuel Ventures, Terra Firma Capital Partners founder and chairman Guy Hands, Klarna deputy CEO Knut Frängsmyr, and Play.com founder Richard Goulding.
A fully funded 2 million pound allocation was also set aside for existing retailers currently using the platform.
The Bournemouth-based business was founded in 2016 and sells over 36 million products from more than 7,000 retailers, with categories spanning fashion, gardening, electronics and furniture.
OnBuy eyes unicorn status
The fast-growing business has been profiting from the increasing consumer shift to online channels in recent years, with its gross merchandise value reaching 155 million pounds in just four years, with only 8 million pounds in total…
