Depop, the fashion marketplace for Generation Z, has raised a $62 million Series C financing round led by General Atlantic. HV again participated in the financing.
Depop will use the fresh funding to invest in technology, as well as push further expansion in the US. The US is already on its way to become Depop’s largest market, with 5 million of Depop’s total of 13M users.
With a mission to empower the next generation to transform the fashion industry, Depop taps into generational shifts towards circular fashion, social shopping and independent brands. Sellers on the platform have generated more than half a billion dollars in revenues and 19 million transactions since Depop’s launch in 2011.
HV joined in Depop’s seed round, back in 2012. The first office was a grey box near Venice, Italy! Since then HV has participated in every round, supporting Maria Raga and her team along the way. We’re looking forward to continuing this exciting journey together!
Further Information and Source Image: https://www.hvventures.com/