Wallapop raised $87M more at a $832M valuation led by Korea’s Naver
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 ecofriendly 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.