Depop to accelerate expansion following $62m investment

Depop, the secondhand fashion marketplace for millennials, has revealed ambitions international expansion plans that could see it launch further across Europe and Asia in the near future.

The eight-year-old company recently raised £50 million in a Series C funding round led by General Atlantic. The investment was mainly aimed at accelerating the app’s growth in the US, but a portion of the funds will also be used to expand further across Europe and Asia

Last year, the business posted an impressive 85% increase in sales, and double-digit growth is set to continue this year, according to the group.

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