Depop, a London, UK-based fashion marketplace, raised $62m in Series C funding.
The round was led by General Atlantic with participation from existing investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, and TempoCap, and Sebastian Siemiatkowski, Founder and CEO of Swedish fintech company Klarna.
The company intends to use the funds to:
– accelerate its US expansion, and internationally,
– grow its London-based engineering and data science teams, and
– invest in new tools and functionality for the platform’s more than 13 million users globally.
Led by Depop CEO Maria Raga, Depop is a web and mobile fashion marketplace for young people to buy, sell and get inspired with more than 13 million registered users in 147 countries, attracted by its social connectivity and vast inventory of original streetwear, independent brands, vintage designer, one-of-a-kind creations and more.
There are currently 16m items for sale on the marketplace, with 110,000 new items listed every day.