Wallapop Raises €157M at €690M Valuation

Wallapop, a Barcelona, Spain-based marketplace for sustainable and responsible consumption, raised €157m in funding at a €690m valuation. 

The round was led by Korelya Capital with participation from Korean main Internat company Naver, as well as Accel, Insight Partners, 14W, GP Bullhound and Northzone. 

The company intends to use the funds to expand operations and its business reach, as well as to continue growing the infrastructure that underpins its service.

Led by CEO Rob Cassedy, Wallapop provides a virtual marketplace that allows people to resell their used items. On the platform, which has allowed more than 180 million items to find a second owner, users can find items at more affordable prices, while extending their functional life. 

The company, which currently has 15m users, plans to improve its user experience, evolve its e-commerce experience through wallapop Envíos and continue designing products and services for small businesses.