Fruugo was born out of a Finnish venture backed by Nokia chairman Risto Siilasmaa, 53. Now based in Cumbria, the company runs an online marketplace operating in 32 countries and 17 languages. Shoppers buy in their own language and currency on the site, which offers more than 10m products from 20,000 brands. Led by co-founders Dominic Allonby, 56, and Darren Naylor, 52, the business is backed by private investors including former Marks & Spencer boss Lord Rose, 70. Sales, which come from net fees, reached £6.7m in 2018, from a total transaction value of £26m. The firm plans to white-label its platform and expand its global presence.
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