Depop raises 62 million in Series C funding

Fashionista has reported that global marketplace Depop has raised 62 million dollars in Series C funding. The funding round was led by General Atlantic. Businesses that make it to the Series C round of funding having already proven their success and are now trying to continue to expand.

Depop, which will be hosting a pop-up shop this weekend in New York City, has plans to grow far beyond their London-based headquarters. The company plans on using the money to expand in the U.S. and into other markets internationally. They also plan to invest in more tools to improve the functionality of their platform.

Marketplaces are one of the biggest growing facets of e-commerce right now, with companies like Amazon and Alibaba touting the status of having some of the largest revenues among global etailers. In addition to expanding their marketplace, Depop plans to grow their data science and engineering teams at their headquarters.