Velocity Commerce, the online retail specialist based in Cambridge, UK, and established just six years ago in a co-founder’s home, has been named one of the fastest growing companies in Europe in the latest FT 1000 report. With an absolute revenue growth of 1,187% and revenue CAGR (2014-17) of 134.3%, Velocity Commerce is the 92nd fastest growing company in Europe and one of just 27 UK companies to have made it to the top 100.
Co-founders Eddie Latham and PJ Scott founded Velocity Commerce in 2013 to help brands build a strong online presence and increase revenue through online marketplaces. Utilising its experience and knowledge of channels such as Amazon and eBay, Velocity Commerce supports brands by delivering tailored marketplace solutions that build direct consumer relationships and help their products stand out against competing products in a crowded space.
Velocity Commerce distributes directly from its own warehouse and, as well as managing current ranges, offers brands an intelligent outlet for end of line, as well as returned and refurbished stock, helping to prevent excessive wastage of useable and resalable products. The business now receives over 3,000 orders per day, and has an annual turnover of £25 million. Eddie Latham and PJ Scott have grown Velocity Commerce with no external investment and are projecting sales of over £30 million in 2019.
The FT 1000, compiled by the Financial Times with Statista, lists the European companies that achieved the highest compound annual growth rate in revenue