US online second-hand marketplace Letgo raises $175 million, African deployment on the cards?

By

Matthieu Guinebault

Translated by
Nicola Mira

Published
Jan 20, 2017

US online second-hand goods marketplace Letgo has announced it raised $175 million in funding, bringing the company's valuation close to $1 billion.

The online marketplace was launched in 2015 and it is currently operational in North America, Turkey, Norway and France. The New York company claims 20 million monthly users, and 45 million downloads of its app, and stated it is now ready to establish a presence in 25 different markets.

The $175 million raised seem to hint to Letgo's possible deployment in Africa, given this funding round's call was answered among others by South African web giant Naspers, as well as investment funds such as Accel Partners, Mangroc Capital Partners, Eight Roads Ventures and 14W.