Wallapop has closed the 2023 financial year with revenues of 91 million euros, which represents an increase of 26% compared to the same period of the previous year, when it recorded 71.6 million euros.
The platform for buying and selling second-hand items validates for another year its commitment to monetize the service through shipping, advertising and premium services. Led by Rob Cassedy, the company has also just increased capital by 20 million euros.
According to a statement, the capital increase represents an extension of the previous investment round, closed in 2023 with a total sum of 81 million euros. This operation has been carried out by the Axis fund, through the Fond-ICO Next Tech instrument. The company’s valuation has grown to 806 million euros, which means that Wallapop is close to becoming a ‘unicorn’ by surpassing the barrier of 1,000 million.
The money obtained in this capital increase will be used to finance its expansion in Italy and Portugal. At 11 years old, Wallapop wants to become “the leading platform for conscious and human consumption in southern Europe.” According to the statement, the business has grown constantly since its inception, reaching 19 million users in these three countries and 640 million products sold.