Depop announced it has raised $20m Series B, led by Octopus Ventures and joined by Tempocap. Current investors are Balderton, HV Holtzbrinck Ventures, H-FARM, Creandum, Lumar as well as Italian entrepreneurs Luca Marzotto and Renzo Rosso from OTB/Diesel Group.
Depop is a social shopping platform that enables creative entrepreneurs to build commercial channels for their products. It has become home to millions of young teenage entrepreneurs who are building their own communities, creating their own brands and generating revenue.
Depop now has over 100 employees, with 8 million registered users worldwide, and offices in London, New York, Los Angeles and Milan.
The investment will support the global growth of the platform, particularly in the US, and scale the business. This will include the opening of bricks and mortar beta spaces, which will help us get even closer to our users and experiment with new formats. We are excited to work with Octopus Ventures. They have a strong portfolio and are experts in accelerating growth of lifestyle and marketplace companies
