London-based mobile fashion marketplace Depop raises €55 million Series C to meet rising demand from Generation Z | EU-Startups
Summary
Founded in 2011, it has since grown a large following among Generation Z, drawn to the app for its social connectivity and vast inventory of original streetwear, independent brands, vintage designer, and one-of-a-kind creations. Depop intends to use the funds to accelerate its expansion in the US and internationally, grow its engineering and data science teams, and invest in new tools and functionality for the platform’s more than 13 million global users. We exist to empower the next generation to transform fashion.” Depop has seen strong organic growth in recent years, particularly in the US, which the company projects will soon become its largest market. This weekend, June 8-9, members of Depop’s US community will convene in New York for Depop LIVE, a free and open to the public retail experience for buyers, sellers, stylists and creatives. “Technology continues to transform the retail landscape around the world and we are incredibly excited to be investing in Depop as it looks to capture the huge opportunity ahead of it,” said Melis Kahya, General Atlantic Head of Consumer for EMEA.
Funding
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