9 years ago

Depop Raises €7.4 Million to Fuel US Expansion

  • Depop, a mobile, social shopping app based in London and Italy, has secured €7.4 million in funding

  • The round was led by Balderton Capital and included participation from Holtzbrinck Ventures, Creandum, Red Circle Investments and Lumar

  • The funding will be used to expand Depop's operations in the US market and grow its community

  • Depop currently has 4.7 million users in Italy, UK and Central America, with 230k new users joining every month

  • The company has sold over €5 million worth of goods in the past year.

      • ProblemRetail

      "Buying and selling clothes online is a hassle. The process can be time-consuming and frustrating, with many sites offering a limited selection of items or requiring you to create an account to browse."

      Solution

      "Depop makes it easy to buy and sell clothes online with a social shopping app. It's fast and easy to use and offers a wide variety of unique items. Users can easily create their own stores and follow other users to find items they love. "

      Covered on