Depop, the fashion marketplace for Generation Z, has raised $62 million in a Series C round led by General Atlantic, with participation from Balderton and other existing investors.
Balderton first invested in Depop back in 2015, when we led their Series A. We are delighted to be supporting their mission to empower the next generation to transform the fashion industry
Depop taps into generational shifts towards circular fashion, social shopping and independent brands. There are now over 13 million registered Depop users globally, approximately 90% of which are under 26, with an estimated third of UK 16-24 year olds on the platform.
The next generation of young people want an experience the fashion industry is struggling to provide. They want authenticity and to set their own trends. They’re influenced by real people. They want choice and individuality, the ability to buy on demand and sell on with ease. At the same time, they want to reduce waste. Depop is set up to meet these changing demands. 
