Whatnot Hits $11.5 Billion Valuation After $225 Million Funding Round

Whatnot, the leading live shopping platform across the US, UK, and Europe, has recently announced a significant financial milestone, securing an impressive $225 million in Series F funding. This latest round was co-led by prominent investment firms DST Global and CapitalG, and saw the participation of several new investors, underscoring strong confidence in the burgeoning live commerce sector. This substantial capital infusion follows an earlier major fundraising round this year, propelling Whatnot's total capital raised to approximately $968 million since its inception in 2019.

This Series F funding round has more than doubled Whatnot's valuation to an astounding $11.5 billion, a clear indicator of robust investor conviction and the widespread consumer adoption of live shopping as a transformative standard in retail. The platform's remarkable growth is further highlighted by the fact that its valuation has surged by over 100% since the beginning of this year. This rapid ascent is fueled by millions of users engaging daily with the platform, where small businesses are successfully cultivating deeply loyal and engaged communities of repeat customers.

The newly acquired capital is earmarked for several strategic platform investments designed to accelerate Whatnot's impressive trajectory. These initiatives include the development of new features to enhance user experience, an aggressive expansion into new international markets, and the scaling of its engineering, marketing, sales, and talent acquisition teams. These investments aim to solidify Whatnot’s market leadership and extend its reach, providing more opportunities for sellers and buyers globally.

Whatnot's operational metrics demonstrate exceptional momentum, with customer retention exceeding 80% month-on-month, marking an 18% increase from a year ago. This high retention rate, coupled with burgeoning user engagement, has contributed to an all-time high in the company's momentum. Significantly, Whatnot’s Gross Merchandise Value (GMV) for 2025 has already surpassed $6 billion, more than double its total GMV for the entirety of 2024, signaling unprecedented growth and market penetration.

Commenting on the milestone, Grant LaFontaine, Co-founder and CEO of Whatnot, emphasized the shifting perception of live shopping. "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," LaFontaine stated. He added that this funding reflects both investor conviction and consumer confidence in their vision for the future of live commerce, enabling the platform to create more opportunities for sellers to build profitable businesses from their passions and delight buyers worldwide.

Laela Sturdy, a Whatnot board member and managing partner at CapitalG, also praised the company's impact. "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," Sturdy remarked. She highlighted the brand’s explosive growth, the dedication of its loyal community, and its relentless execution in serving both buyers and sellers, positioning Whatnot as one of the most exciting investments in the contemporary commerce landscape. The company recently expanded its offerings with a successful launch into the sportswear category in the UK, further diversifying its marketplace.