OnBuy have reported a 1300% year-on-year growth (March 2018 to March 2019). OnBuy added that during the beginning of the April the marketplace’s transactions were up 112%, compared to the first week of March 2018. They also saw a 600% increase in users joining the platform this month.
Cas Paton, founder OnBuy puts down the growth of revenue to collaboration with PayPal. He says that the payments provider’s level of security and protection brought a piece of mind to sellers and buyers.
“We’ve experienced a fantastic week to kick-start April and put our booming sales and growth down to continue fostering innovation to enhance the customer experience. At the end of last year, we announced our partnership with global online payment specialists, PayPal, which has really helped fuel our exponential growth. The move to PayPal means that our buyers and sellers benefit from a robust level of security and protection. We will continue to disrupt the sector by investing millions into OnBuy and will shortly be launching new services to revolutionise online retail across the country, details of which are yet to be revealed. Equally, we attribute our exponential growth to the fact that our selling fees are cheaperRead the rest of this post here