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Depop

“Can a Gen Z social resale marketplace scale into a full commerce platform under Etsy's ownership?”

Founded2011
HQLondon, UK
Total raised$100M+ (pre-acquisition)
Latest roundAcquired by Etsy, 2021
Valuation$1.625B (Etsy acquisition, 2021)
IndustryMarketplace / Two-sided
The story

Founded 2011 in Italy and re-launched in London in 2013, Depop built a mobile-first Instagram-style resale marketplace for Gen Z fashion. After a $62M Series C in 2019, Etsy acquired the company in 2021 for $1.625B to anchor its Gen Z / secondhand strategy. Depop operates its own marketplace payments product (Depop Payments) powered by Stripe, and in 2025 opened a partner Selling API to plug third-party inventory tools into its platform.

Last 12 months
2025
Product timeline
2011
Founded in Italy as a social shopping app· pivot
2013
Launched in the UK· pivot
2015
$8M Series A, US market expansion· pivot
2019
$62M Series C led by General Atlantic; 13M users· pivot
2021
Acquired by Etsy for $1.625B· acquisition
The stack
5 layers disclosed in Depop’s embedded-finance stack
Payments / PSP
StripeCash App
Money movement
in the full report
Banking / BaaS
in the full report
KYC
in the full report
FX & payouts
in the full report
Accounting gap: significant
4 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.