Britain’s fastest-growing, founder-led private companies have been revealed in the FEBE Growth 100, with Fruugo placed 41st in the line up.
The Growth 100 celebrates British business, highlighting founders that are driving their companies to deliver significant sales, revenue and profit, against a backdrop of unprecedented economic challenges.
Fruugo is the UK’s leading global online marketplace platform. It has 170 employees helping over 3,000 online retailers sell products to 7 million shoppers a year in 42 countries, 31 currencies and 28 languages.
The company has continued its track record of sustained and exceptional growth over the last year, achieving revenue growth of 110 per cent in FY22 versus FY21, and over 230 per cent versus FY20. The business has grown revenue almost tenfold in the period of FY18 to FY22, representing a compound annual growth rate (CAGR) of 77 per cent (FY18 to FY22). This strong performance reflects the quality and scalability of Fruugo’s platform and technology, its market-leading data science expertise, and its continued long-term growth in global cross-border eCommerce.
“We’re delighted to be included in the FEBE Growth 100 for 2023.” said Dominic Allonby, Fruugo’s executive chairman and founder. “We are proud to be both a profitable and fast-growing company with ambitious plans for further international expansion. After a record-breaking year of growth, we’re pleased for this success to be recognised and the Fruugo team is working hard across the globe to ensure our exceptional growth trajectory continues this year and beyond.”
The FEBE Growth 100 list shows a spread of entrepreneurial success throughout the UK including 26 companies in London; 13 companies in the South East; 11 in Yorkshire, 9 in Scotland and 8 in the East Midlands. Women are founders or co-founders of nearly a third of all winning companies with the exact ratio of men to women founders standing at 68 per cent to 32 per cent.
To be on the list, businesses must be UK registered, independent and unquoted, meeting the following criteria:
- Sales between £3m and £200m
- Trading for at least three years
- An operating profit in the latest financial year
- Founder(s) must still be involved
The ultimate ranking of 100 was data-driven, with companies ordered by compound annual growth rate (CAGR) in sales over the last three financial years. Businesses were initially selected by either nominating themselves or through FEBE contacting them directly, as well as by accessing publicly available financial information.
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