General Atlantic led the Series C round, which will fund US expansion and platform development.
"The next generation of young people want an experience the fashion industry is struggling to provide. They want authenticity and to set their own trends. They’re influenced by real people. They want choice and individuality, the ability to buy on demand and sell on with ease. At the same time, they want to reduce waste. Depop is set up to meet these changing demands. We exist to empower the next generation to transform fashion."
The investment includes £750k from NPIF - Mercia Equity Finance alongside contributions from private backers.
"We’re pleased to receive support from the Northern Powerhouse Investment Fund as well as adding some great new non-executive expertise to our board. The funding will allow us to invest further in product development to scale our matchmaking platform and our Discover product, in line with our vision of connecting university research with companies around the world to positively impact on society."
The Series E round was led by Sunley House Capital Management with participation from Draper Esprit.
"Trustpilot is a fantastic business that we’ve backed for some years. They’ve built a market leading business model and have grown strongly since we initially invested in them in 2013."
