GP Bullhound has made a follow-on investment in wallapop, Spain’s leading classifieds marketplace app for unique and second-hand goods, as part of a Series G funding round of EUR157 million bringing the company’s valuation to EUR690 million.
Wallapop’s geo-localised technology connects a community of 15 million users in Spain by offering an easy and convenient way to buy and sell items that are no longer used. The platform, which has found a second home for more than 180 million items, provides people with access to unique goods at great prices, while extending the life of fully functional products.
Rob Cassedy, CEO of wallapop, says: “At a time in which society is experiencing the economic impact of COVID-19, we are committed to using technology and disruptive innovation to empower our buyers and sellers to participate in a new, more sustainable way of consuming.”
Joakim Dal, Partner at GP Bullhound, adds: “GP Bullhound is proud to continue supporting wallapop and to be joined by such a strong set of new investors. Having followed the company for several years, we strongly believe in its vision of using technology to build a more conscious, engaging and human way of consumption.”
Read more at Private Equity Wire
