OnBuy expands into twelve European markets

British online marketplace OnBuy announced a significant expansion of its international presence on Tuesday, last week.

The platform is now launching in twelve new European markets, the company announced. These include Germany; France; Spain; Italy; the Netherlands; Belgium; Austria; Greece; Finland; Portugal; Ireland and Slovakia. Retailers in these countries can now register for the local platforms, the e-commerce specialist explained. The goal is to offer customers “a credible alternative to US giants like Amazon and Ebay”.

The move solidifies the company's “status as one of the fastest-growing tech firms in Europe,” according to a statement. The company announced the acquisition of British online retailer Comet in the spring. The European expansion is being led by Marie Dauphin. She has been appointed head of sales and will now build local teams for the new markets and establish strategic partnerships in areas such as logistics and e-commerce.

Company aims to increase its GMV to one billion British pounds

Initial experiences in the continental markets have been positive, according to the company. Beta activities there have led to sales growth of 308 percent, with average monthly growth rates exceeding forty percent, OnBuy explained.

The new European markets are expected to contribute an additional 100 million British pounds to the company's Gross Merchandise Value (GMV). The online retailer also expects to gain five million new customers there within the next twelve months.

Plans are already in place to enter eight more markets. OnBuy currently aims to increase its annual GMV to a total of one billion British pounds over the next three years.

This article was translated to English using an AI tool.

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