Wallapop extends funding round with EUR 20 million

Wallapop extends €20m G-Series financing round with AXIS, through Fond-ICO Next Tech. With this deal, AXIS joins Korelya Capital, a European late-stage investment fund, and the other investors involved in Wallapop's previous financing deal, completed in February 2021, and the subsequent capital increase in early 2023.

With the second extension of this round, Wallapop will continue to focus on its internationalisation and capitalise on the market for second-hand products, responding to changing consumer habits in favour of conscious consumption options at affordable prices. The platform intends to continue consolidating its position as a leader in the re-use of products in Southern Europe.

"Wallapop is focusing on growing its business in Spain, Portugal and Italy and on breaking down barriers to entry in the reuse market, to enable more people to participate in a consumption model that is sustainable and generates economic opportunities for people," said Rob Cassedy, CEO of the company, adding, "We have a strong value proposition to make reuse the first choice of purchase, and NAVER, Korelya, AXIS and other investors share our vision."

The company, which celebrated its 10th anniversary in 2023, ended the last financial year with turnover of around EUR 91 million, up 26% from EUR 71.6 million the year before. Since 2019, Wallapop has recorded a 355% increase in turnover and, after this new capital injection, has reached a valuation of EUR 806 million.

Founded in 2013, Wallapop has seen a more than 100-fold increase in the number of people using the platform over the past decade, from 170,000 to more than 19 million users who, together, have given a second life to more than 640 million products and create around 100 million ads each year.