Wallapop has expanded its Series G round of 157 million euros, which closed in early 2021, with an additional 81 million euros. The operation was once again led by Korelya Capital, a Paris-based European late-stage investment fund, and backed by Naver, a Korean Internet company. Shareholders such as Accel, 14W, and Insight Venture Partners also reiterated their participation. With the resources obtained, the second-hand product buying and selling company has increased its total valuation to 771 million euros.
The Barcelona-based company, led by Rob Cassedy, is immersed in its internationalization in Southern Europe. The platform launched in Italy in 2021 and last September, in Portugal. With the expansion of the round, Wallapop will continue its growth in these countries.
The company closed 2022 with revenues exceeding 72 million euros, 40% more than in 2021. Last year, revenues generated by transactions between users through Wallapop Envíos, which allows sending and receiving products through operators such as Correos and Seur, also grew, increasing from almost 17 million euros to more than 32 million euros. Wallapop's subscription service revenues for professional sellers also increased, reaching 10 million euros, up from 6.7 million in 2020.
Founded in the Catalan capital ten years ago, the company has 15 million users who visit the application every month, either to sell products they no longer use or buy those they need, generating a total of 100 million listings per year. Since 2020, the platform has been expanding its workforce and has doubled its size, currently employing more than 300 workers.