Wallapop, The Circular Marketplace Out Of Spain, Raised $87M More At A $832M Valuation Led By Korea’s Naver

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Wallapop, a peer-to-peer marketplace based out of Barcelona that made a splash at the peak of the Covid-19 pandemic with consumers who were looking for more localized, less wasteful, and more eco-friendly routes for buying and selling items, has raised more money to continue its expansion in Europe.The company has picked up €81 million ($87.4 million), which it will be investing into its operations in Spain, Italy and Portugal after seeing its 2.4 million downloads in the first half of the year in Italy (a newer market for the app) and a 600% increase in cross-border activity between Spain and Italy in that period. The company also plans to put more into data science and other areas of R&D — critical given that discovery, personalization and other tools to connect buyers with items they want is critical to people coming back and using Wallapop again and again. The company is describing this as an extension to its Series G — a $191 million round that it raised in February 2021. They are signs not just of the maturing of the platform, but also of how the company is also trying to diversify how it makes money. I’ll also point out that the 15 million figure was the same number of users it had in 2021 when I covered the original Series G.The company did not provide any comment from its investors. It’s been 10 years since Wallapop was founded, and currently it only sees traffic of 15 million monthly active customers across 100 million listings (that is the number in aggregate over the year, not at any given time).