Depop to Accelerate U.S. Expansion With Funds From Latest VC Round

Depop, the fashion app targeting Gen Z, said Thursday that it has raised $62 million in a Series C round led by General Atlantic. The news comes on the eve of Depop Live, which will be held at 428 Broadway in Manhattan’s SoHo, this weekend. The biggest activation in the app’s history, the event will include workshops, panel discussions, live music and commerce, with participating sellers such as Slumpykev, Heron Preston and Telfar. Depop plans to use the funds to accelerate its U.S. expansion, where the app counts 5 million users and operates stores in New York and Los Angeles. The platform expects to grow its community in the U.S. to 15 million over the next three years. Internationally, Depop will allocate funds to grow its London-based engineering and data science teams and invest in new tools and functionality for the platform’s more than 13 million users globally. The app’s mission is empowering the next generation to transform the fashion industry. Depop identifies and promotes generational shifts such as the circular fashion movement and social shopping, and champions independent brands. Depop sellers have earned more than half a billion dollars through 19 million transactions since the platform’s 2011 launch. The platform wants to grab a

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