Global online marketplace platform Fruugo grew revenues 110% to £65 million in 2022.

The company, headquartered in Ulverston, Cumbria, saw growth of over 230% on a two-year basis.

Total transaction value through the Fruugo platform increased by 87% YoY to £255m in 2022.

Fruugo’s technology and real-time model ensures shoppers are dynamically matched with retailers around the world, only offering for sale products that are in stock and ready to ship at the moment of order. 

The retailers fulfil the orders directly, and consequently Fruugo itself never holds stock nor is it directly subject to logistics or supply chain shortages.

The number of shoppers buying through Fruugo from around the world increased by 114% YoY to just under 7 million in FY22. During the year, more than 96% of all transactions crossed a border, 83% of transactions were cross-currency and more than 90% of Fruugo’s revenue was generated from shoppers outside of the UK.

From F1 to raising £11m for my own robotics company

“We are delighted to report another year of exceptional growth. Due to substantial and growing demand for Fruugo’s multi-award-winning services, coupled with our high-quality execution, we have more than doubled the size of our business in just one year,” said Dominic Allonby, executive chairman.

“Fruugo’s mission is simple: to enable retailers anywhere to sell to shoppers everywhere, enabling retailers to access international demand for their products that they wouldn’t otherwise be able to find. 

“Our proprietary technology and data science expertise, in combination with the huge range of product categories available through our platform, means that Fruugo is able to continually tap into worldwide consumer demand for sought after products and categories.

“The benefits of our very diverse, cross-border marketplace model have been particularly profound in recent times and are reflected in our outstanding growth rates. While many traditional and eCommerce retailers and brand owners have grappled with external supply chain headwinds and stock availability, Fruugo has been able to deliver record revenues, by enabling the retailers using our ‘no-sale no-fee’ platform to find new shoppers all over the world.

“Fruugo already powers the global trading of thousands of ‘direct to consumer’ businesses and has the capacity to serve many, many more. As we enter 2023, we remain focused on further enhancing our platform, including developing the tools retailers use to join Fruugo, and continuing to develop the user experience on our websites.

“These are very exciting times for Fruugo. Our high quality and experienced management team and board of directors are focused on building a large scale and world class global marketplace business. Fruugo is fast-growing, award winning, truly international, asset light and built for scale.  We look forward to continuing our strong growth trajectory in 2023 and beyond.”

Bumper 2022 for Zappify digital business card