Depop has raised $106.0M in total across 5 funding rounds.
Depop's investors include Accel, Balderton Capital, Bond, Creandum, DST Global, Founders Fund, Graypes GmbH, Helium-3 Ventures, HV Capital, Lakestar, Northzone, Octopus Ventures.
Depop is a London-based social e-commerce marketplace that enables users to buy, sell, and discover affordable secondhand fashion, primarily apparel, with a focus on circular and sustainable practices.[2][3][4] Owned by Etsy since 2021, it serves a global community of 43.5 million registered users—mainly in the US, UK, and Australia—by solving the problem of wardrobe clutter and fast fashion waste through peer-to-peer resale, where 57% of active sellers also buy, fostering high engagement.[1][2] The platform drives strong growth momentum, with revenue surging 42% to £101.6 million in 2024 despite a narrowed operating loss of £42 million, fueled by US market leadership as the fastest-growing online apparel marketplace, AI tools, fee structure changes (shifting fees to buyers in key markets), and features like the new "Outfits" tool for styling real inventory.[1][5]
Depop was founded in 2011 in London as a social shopping app tied to the fashion and culture magazine PIG, allowing readers to buy items from featured creatives.[2][3] It evolved into a standalone peer-to-peer marketplace app and web platform, gaining early traction through its blend of social networking and resale, where users follow influencers and promote shops via Instagram.[2][3] Key pivots included responsiveness to user trends during the 2020 pandemic, doubling gross merchandise sales to $650 million, and its $1.6 billion acquisition by Etsy in 2021, which expanded its reach while preserving independence under a 400-person team across London, New York, and Manchester.[2][3][4][5] This Etsy integration targeted Gen Z expansion and countered physical retail shifts.[3]
Depop rides the explosive growth of the global secondhand clothing market, capitalizing on sustainability trends, Gen Z preferences for preloved and unique vintage items, and circular economy shifts amid fast fashion backlash.[1][2][4] Its timing aligns with post-pandemic e-commerce booms and AI integration for seamless resale, positioning it ahead of competitors like Vinted in user engagement and US expansion, while Etsy's backing provides operational scale.[1][3][4] Depop influences the ecosystem by normalizing resale culture—popularizing "preloved" globally, empowering indie sellers/creators, and standardizing circular metrics via partnerships like WRAP—thus accelerating fashion's shift toward equity, creativity, and reduced waste.[2][5]
Depop's trajectory points to scaled profitability through US/Australia dominance, AI enhancements, and features like Outfits/Safety Centre under new permanent CEO Peter Semple (appointed 2025), with headroom in untapped markets and gaming collaborations.[1][5] Trends like AI-driven personalization, minimalist/retro styles, and regulatory pushes for sustainability will propel it, potentially evolving its influence from niche resale leader to mainstream fashion ecosystem shaper, displacing more new production as the $350 billion secondhand wave crests.[1][5][7] This builds on its revenue surge, affirming Depop's role in making secondhand the new norm for circular fashion.
Depop has raised $106.0M across 5 funding rounds. Most recently, it raised $62.0M Series C in June 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2019 | $62.0M Series C | Accel, Balderton Capital, Bond, Creandum, DST Global, Founders Fund, Graypes GmbH, Helium-3 Ventures, HV Capital, Lakestar, Northzone, Octopus Ventures, Picus Capital, Marco DeMeireles, TCV, Arthur Kosten, Jabez Dewey, Matt Bellamy, Stefan Blom, Tim Ringel | |
| Jan 1, 2018 | $20.0M Series B | Accel, Balderton Capital, Bond, Creandum, DST Global, Founders Fund, Graypes GmbH, Helium-3 Ventures, HV Capital, Lakestar, Northzone, Octopus Ventures, Picus Capital, Marco DeMeireles, TCV, Arthur Kosten, Jabez Dewey, Matt Bellamy, Stefan Blom, Tim Ringel | |
| Sep 1, 2016 | $13.0M Series A | Accel, Balderton Capital, Bond, Creandum, DST Global, Founders Fund, Graypes GmbH, Helium-3 Ventures, HV Capital, Lakestar, Northzone, Picus Capital, Marco DeMeireles, TCV, Arthur Kosten, Jabez Dewey, Matt Bellamy, Stefan Blom, Tim Ringel | |
| Jan 1, 2015 | $8.0M Series A | Balderton Capital, HV Capital, Picus Capital, Arthur Kosten | |
| Sep 1, 2012 | $3.0M Seed | HV Capital, Picus Capital |
