Whatnot, one of the live shopping platforms across the U.S., UK, and Europe, has landed $225 million in Series F funding. The round was co-led by DST Global and CapitalG, with participation from Sequoia Capital, Alkeon Capital, and returning investors including a16z, Greycroft, and BOND. The new funding values Whatnot at $11.5 billion, more than double its valuation from early 2025.
The new capital will accelerate international expansion, support engineering and marketing teams, and drive product innovation to strengthen its market leadership. It also plans to enhance trust and safety on its platform and roll out new features for a seamless shopping experience.
A portion of the round will also support a $126 million tender offer, allowing select investors to buy shares from existing shareholders:
Redefines online shopping through connection
Whatnot’s success lies in its ability to turn shopping into a social experience. Millions of users now join live auctions and chat with sellers in real time, discovering everything from rare trading cards and vintage comics to sneakers and apparel. For small businesses and individual sellers, it’s become a vibrant community where passion meets entrepreneurship. The platform’s customer retention rate has climbed to 80% month-over-month, up 18% from last year, underscoring its loyal user base.
Explosive growth and expansion
The company’s gross merchandise value (GMV) has already exceeded $6 billion in 2025, more than doubling its 2024 total. Founded in 2019 by Grant LaFontaine and Logan Head, both collectors themselves, the company has expanded beyond the U.S. into Canada, the UK, France, and Germany, making it the fastest-growing marketplace in North America.
“Whatnot brought the live shopping wave to the US, the UK, and Europe and has turned it into one of the fastest growing marketplaces of all time. The brand’s explosive growth, loyal community, and relentless execution in service of its buyers and sellers make it one of the most exciting bets in commerce today,” said Laela Sturdy, Whatnot board member and Managing Partner at CapitalG, Alphabet’s independent growth fund.”
“E-commerce adoption remains far from saturated globally, with vast markets still predominantly offline. Whatnotcapitalizes on this opportunity through live shopping and strategic curation of emerging categories,” said Alfred Lin, Partner at Sequoia Capital. “Grant and the Whatnot team have turned passion into a powerful business, and we are proud to be a part of their growing community.”
“The conversation around live shopping has changed. We’re no longer asking if it will catch on. Whatnot is proving that live shopping is retail’s new normal,” said Grant LaFontaine, co-founder and CEO of Whatnot. “This funding represents both investor conviction and consumer confidence in our vision for the future of live commerce. With this capital, we will create more opportunities to help sellers build profitable businesses from their passions to delight buyers around the globe.”
