UK's Fruugo plans IPO

Fruugo was originally founded in Finland in 2006. After encountering some financial problems, it closed its office in Helsinki in 2012. In the same year, DTL in the UK merged with Fruugo Finland to form the current UK-based e-commerce platform Fruugo.

Fruugo's business scope covers 46 countries around the world. The platform supports 28 languages ​​and more than 30 payment methods. 85% of its sales come from cross-border transactions , and it has a large market on search engines. It is not clear how much money Fruugo hopes to raise through the IPO, but according to foreign media reports, it may be as high as hundreds of millions of pounds.

In the context of global trade, e-commerce platforms provide more opportunities for small and medium-sized sellers, and these sales also feed back into the development of the Fruugo platform . Earlier this year, Fruugo was listed as one of the fastest growing companies in Europe by the Financial Times.

Fruugo's current traffic is about twice what it was in mid-2019 , and there was a huge peak during the epidemic lockdown. The customer base was previously around 500,000, and now it has nearly 1 million. It is reported that the total transaction volume on the Fruugo platform more than doubled last year to nearly 116 million euros.

As the demand for e-commerce begins to rise, more and more businesses are looking for opportunities to expand their trade opportunities. Fruugo has been working hard to develop and expand their marketplace, and in recent times has been supporting cross-border transactions for platform sellers and taking many measures to further simplify the procedures for sellers in cross-border transactions.

In August this year , Fruugo also launched a new seller dashboard that helps sellers understand their performance in the previous month, covering multiple dimensions. It is designed to help sellers find more sales opportunities. Currently, it will be sent monthly via email in the form of a static PDF, but their future goal is to provide a more interactive version in the enhanced retailer portal.

The e-commerce market in the UK is in a booming stage. The progress of the Fruugo platform is also a product of this trend. In addition to Fruugo, all major local e-commerce platforms have grown to varying degrees.

In addition to Amazon, sellers targeting the UK market can also learn more about local platforms. It is always a good idea to cast a wide net.

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