Whatnotlive shopping platform and marketplace, closed a $225 million Series F round, more than doubling its valuation to $11.5 billion in less than 10 months.
Global summer time AND Capital G co-led the financing, which has brought the Los Angeles-based company’s total revenue to roughly $968 million since its inception in 2019. Whatnot raised $265 million in one yr Series E round valued at nearly $5 billion in January.
New investors Capital of Sequoia AND Capital of Alkeon took part in Series F with returning sponsors Greycroft, Andreessen Horowitz, Avra AND Bond. Other investors include: Y Combinator, Partners of the Lightspeed enterprise AND Liquid 2 ventures.
As a part of the latest financing, Whatnot will announce a tender offer in which select existing investors will purchase up to $126 million value of shares.
Global e-commerce startup funding so far this yr totals $7.1 billion, per Crunchbase data. For comparison, in the full yr 2024, e-commerce startups worldwide raised $11.3 billion. This yr’s numbers are also down significantly from total post-pandemic funding, which rose to $93 billion in 2021.
“Retail’s new normal”
Live trading is a combination of live streaming and online shopping. Grant LaFontaineco-founder and CEO of Whatnot, said in the announcement that his startup “proved that live shopping is the new normal in retail.”
The company says more than $6 billion value of things have already been sold on its platform in 2025, more than double the amount sold in all of 2024. The app makes it easy to buy and sell collectibles comparable to trading cards and toys via live video auctions. The offer also includes products comparable to clothing and sneakers. He competes with those eBaywhich does not currently offer a live streaming option. It’s also competition for TikTok Store.
“Whatnot created a wave of live shopping in the US, UK and Europe and turned it into one of the fastest-growing markets of all time, Order solidlyWhatnot member of the management board and managing partner at Capital G, Alphabetan independent growth fund, the release said.
The company plans to use the recent funds to invest in its platform, implement recent features and “evolve” its policies. It is also accelerating its international expansion, increasing its current variety of 900 employees through hiring in multiple departments.