What is Depop?
Founded in 2011, Depop operates as a unique social marketplace focused on the resale of fashion items, including clothing, sneakers, streetwear, and accessories. It has carved out a niche by blending e-commerce with social networking features, allowing users to discover, buy, and sell unique items. The platform's appeal lies in its community-driven approach and its focus on sustainable fashion consumption, positioning it as a key player in the circular economy within the apparel sector. Its user base primarily consists of Gen Z and millennials seeking distinctive fashion pieces.
How much funding has Depop raised?
Depop has raised a total of $99.3M across 5 funding rounds:
Angel/Seed
$1M
Series A
$8M
Private Equity
$8.3M
Series B
$20M
Series C
$62M
Angel/Seed (2013): $1M, investors not publicly disclosed
Series A (2015): $8M led by Balderton Capital LLP and Holtzbrinck Ventures
Private Equity (2016): $8.3M supported by Holtzbrinck Ventures, Balderton Capital, and Creandum
Series B (2018): $20M, investors not publicly disclosed
Series C (2019): $62M backed by Sebastian Siemiatkowski, HV Holtzbrinck Ventures, TempoCap, General Atlantic, Creandum, Balderton Capital, and Octopus Ventures
Key Investors in Depop
General Atlantic
General Atlantic is a global growthequity firm that provides capital and strategic support to highgrowth companies in sectors such as consumer, financial services, healthcare, life sciences, and technology. With dozens of portfolio companies worldwide and offices across the Americas, EMEA, and AsiaPacific, it partners with founders and management teams to accelerate growth, international expansion, and transformational initiatives.
TempoCap
TempoCap is a venture and growth capital firm that invests in transformational technology businesses across Europe. They focus on supporting exceptional founders with global ambitions to further develop their companies. Their portfolio includes companies in various sectors such as fintech, cybersecurity, and software, providing innovative solutions to diverse markets. TempoCap is committed to enhancing Europe's technology ecosystem through close partnerships with the companies they invest in.
Balderton Capital LLP
Balderton Capital (balderton.com) is a Londonbased venture capital firm that raises dedicated funds to invest in earlystage, highgrowth technology companies across Europe, typically leading Seed and Series A rounds and supporting founders through global scaleup and exits.
What's next for Depop?
With the recent influx of major strategic investment, Depop is poised for accelerated growth. The company is likely to focus on enhancing its platform features, expanding its global reach, and potentially exploring new market segments. Strategic partnerships and further technological advancements in areas like AI-driven recommendations and enhanced user experience are anticipated. This substantial backing suggests a trajectory towards solidifying its market leadership and potentially preparing for future liquidity events, such as an IPO or acquisition, by strengthening its operational infrastructure and user engagement strategies.
See full Depop company page
