letgo, a New York and Barcelona-based visual mobile app for buying and selling items locally, raised $100m in Series A funding.
Naspers Limited (JSE:NPN, LSE:NPSN), an Internet and media company made the investment.
The comapny will use the funds to launch a marketing campaign focused on U.S. consumers in the coming months.
Founded by Alec Oxenford, Jordi Castello and Enrique Linares, letgo is a visual mobile marketplace allowing users to post, buy, sell and communicate with each other instantly and for free. Launched in 2015, the service has been downloaded more than 2 million times – with users in the U.S. and around the world posting more than 500,000 listings with a total gross merchandise value of over $25 million.
Available on iOS and Android devices in the U.S. and worldwide, the app offers features like instant chat and geolocation-based search, allowing users to connect instantly and for free.
It already ranked in the top 10 free shopping apps in the Google Play store in the United States, Sweden, Turkey, New Zealand, Norway, Italy and Spain.
FinSMEs
03/09/2015