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Wallapop returns to the arena of the large financing rounds, but still does not want to talk about abroad

Wallapop, one of the startups par excellence in Spain, is still very a lot alive when it comes to financing rounds. The know-how for purchasing and promoting second-hand objects has simply introduced the closing of its seventh spherical of financing for 157 million euros.

It’s, the truth is, the largest operation that the Spanish firm has closed since its founding in 2013. Not less than on paper: in the early days of Wallapop, particularly between 2013 and 2015 when the rounds adopted one after one other, the most was not to disclose the quantity of the operations. From the firm’s perspective, the truth of publishing the information had no relevance for the product or customers, as one of its founders defined to already in 2016.

It was in 2018, with the departure of the founders of Wallapop and the entry of Rob Cassedy occupying the place that the change occurred. Now we all know the quantity of this operation, closed in the center of the pandemic, and the valuation reached by the know-how: 690 million euros. Still removed from unicorn standing.

With this operation, Wallapop will increase its valuation to 690 million but still does not conquer the place of unicorn

In the operation, an extended checklist of worldwide funds. Korelya Capital, of French origin and identified in the elite startup sector in Spain for her entry into Glovo. And with them additionally the South Korean Naver, proprietor of Line. To finish the operation, Accel, Perception Ventures, 14W, Northzone or Bullhound have additionally supported the new spherical of Wallapop.

Along with the quantity of the operation, the first to shut since 2018, it has additionally been attainable to know the standing of the firm’s accounts. The fact is that the scenario of the coronavirus pandemic has relaunched the exercise of Wallapop. Regardless of the non permanent closures due to the confinement, revenues elevated 50% in 2020 to roughly 25 million; but still registering losses in whole. The lengthy historical past of the courier supply service, which Wallapop had been engaged on lengthy earlier than the virus, has been one of the keys to sustaining its exercise all this time. A element that its direct competitors, Milanuncios, had to implement simply after the deconfinements to assure contactless deliveries.

Additionally, and as Cassedy explains to Cinco Días, it’s the affirmation that the monetization and enterprise mannequin conals work. This level has been one of Wallapop’s pending points since its founding: managing to monetize its exercise with out harming customers. The sponsored merchandise or the cost by the cost gateway are some of the sources that the firm has used.

Wallapop higher in Spain and with out going public


Wallapop’s expertise outdoors of Spain was not fully constructive. He already tried in 2016 with a sort of merger with Letgo -a US firm of Spanish origin- to handle the North American market.

Two years lasted the idyll on the different aspect of the Atlantic, the place he had to compete with the giants of the classifieds. In 2018, and in the face of poor general outcomes, Wallapop bought Letgo’s stake in its half of the enterprise in the United States and returned to its origins in Spain. This, the truth is, was additionally the finish of Agustín Gómez – one of the founders of Wallapop – in his firm. Relieved by Cassedy, who got here from Ebay, Wallapop’s future centered on laying the foundations in Spain.

In truth, to date, Wallapop has not talked about the concept of ​​going out to conquer different international locations once more. Not even this spherical of 157 million goes to function an excuse to conquer Europe, at the least for now. Nor to go public. One of the everlasting pending accounts of the technological panorama in Spain does not conquer the classifieds firm both. In truth, none of the present unicorns have plans – at the least for the gallery – to put their shares on the inventory market.

The sale appears to be that it’s not one of Wallapop’s choices in the quick or medium time period. In truth, this selection is the one which has resonated the most in the sector since know-how started to emerge. With no monetization mannequin, at the least initially, but having conquered the customers of the nation, the Wallapop product was a really engaging sweet for a large purchaser; worldwide certainly. At the second, the management of the firm does not have this chance in thoughts.

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Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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