3 of the Fuel portfolio feature on the Deloitte Fast50
After another successful year for the Fuel Ventures Portfolio companies, Moteefe, Distribute and Paddle have all been included and featured on the Deloitte Fast50 (https://www.deloitte.co.uk/fast50/winners/2021/). It is a shame they didn’t consider a number of the other portfolio companies, we will have to take over the list next year…
In all seriousness though, this is a great achievement to be included on the Deloitte Fast50 amongst some of the fastest and most exciting tech companies in Europe. This highlights some of the unbelievable work these companies have been putting in behind the scenes and is recognition for their work.
Moteefe is a social commerce platform providing brands and influencers with the ability to sell customised on-demand products to fans and followers across the globe. The platform handles orders, payments, production, logistics and customer support, offering a valuable end to end service to the user.
Distributed is a platform for building bespoke software through technology-powered elastic teams. Distributed are creating the world’s most extensive network of exceptional developers, designers, and product managers and augmenting them with data, artificial intelligence, and a vibrant working schedule. Distributed addresses a huge and growing market, of both IT outsourcing but also the future of work, with a total market size of £74bn.
Following the closing of their £4m Series A round, Distributed have continued to grow from strength to strength, delivering record revenue months for each of the past thirteen months.
Paddle is the leading Revenue Delivery Platform for SaaS companies that powers rapid growth across acquisition, renewals and expansion. They help ambitious SaaS CEOs transform their revenue delivery infrastructure into a strategic growth lever to respond faster and more precisely to every growth opportunity. Paddle is a unified, all-in-one platform, purpose-built for modern SaaS execution making it easy for companies to scale up, compete without boundaries, and always operate with full integrity and compliance.
Paddle has been a stalwart on the Deloitte Fast50 and continues to feature.
Also an honourable mention to OnBuy who were also included on the regional winners of the Deloitte Fast50.
OnBuy is a leading e-commerce marketplace that is offering buyers and sellers a fair and transparent approach. Unlike other market places, OnBuy does not hold stock or sell any of its own products which could compete with their sellers. In addition to having a completely seller centric view, OnBuy charge significantly lower commission fees between 5-9% on the value of the sale, which they have found is passed onto consumers by sellers, through lower prices. As a result, they have won some major global sellers such as The Hut Group, Unilever, AO.com and Proctor & Gamble. OnBuy have also partnered with PayPal, enabling them to provide additional protection for buyers and sellers, as well as shortening the time taken to release funds upon item dispatch. OnBuy is still scratching the surface of the UK ecommerce market which is worth £150bn and the global opportunity which is worth c.£4.5tn+.
OnBuy has achieved 200% revenue growth in 2021 YTD and is forecasting £2b in sales by late 2023. Fuel Ventures achieved a 14.2x uplift for the FV fund in 16 months. We negotiated a very good entry price at £6.5m, with the business now being valued at £149m. The business has recently raised £35m and is on track for £300m+ valuation over the next 12-18 months.
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