6 years ago

Depop Secures $62 Million in Series C Funding to Fuel US Expansion

  • Depop, a social shopping platform for secondhand clothing and accessories, has raised $62 million in a Series C funding round led by General Atlantic

  • The funding will be used to accelerate Depop's US expansion, grow its engineering and data science teams in London, and invest in new tools and functionality

  • Depop has over 5 million users and expects to reach 15 million users in the next three years

  • The company has seen significant organic growth in the US market and is well-positioned to capture the huge opportunity ahead of it.

      • ProblemFashion

      "The fashion industry struggles to provide an experience that resonates with the next generation of young consumers, who are increasingly interested in social shopping, independent brands, and resale."

      Solution

      "Depop provides a mobile-first social shopping platform for the next generation to buy and sell unique fashion, empowering young people to transform fashion consumption while catering to their preference for social interaction, unique items, and sustainable practices."

      Covered on