Depop Closes €7.4M Funding Round

depopDepop, a London, UK and Roncade, Treviso, Italy-based mobile, social shopping app, closed a €7.4m funding round.

Backers in the round, which valued the company at €38.6m, included Balderton Capital, Holtzbrinck Ventures, Creandum, Red Circle Investments and Lumar.

The company intends to use the funds to further expand in the US market and grow its community.

Developed in H-FARM in 2011 from an idea of Simon Beckerman, Depop allows users to sell and buy from their smartphone, set up their own stores, follow interesting people and discover unique items.
It currently has 4.7 million users in Italy, UK and Central America, with 230k new ones joining every month, an average of 1.6 million new objects uploaded per month, 500k items sold per month corresponding to over €5m, and 70 staff members.



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