Whatnot, an online marketplace for buying and selling collectibles, has recently announced the successful completion of a $20M Series A funding round led by Kumparak at TechCrunch. This article will explore the recent developments of Whatnot and its journey toward this impressive fundraising milestone. Whatnot 20m Serieskumparaktechcrunch.
Background
Founded in 2019, Whatnot is a platform designed to make the buying and selling of collectibles easier and more accessible. The platform offers a wide range of items including sports cards, Funko Pops, and other unique and sought-after items. Whatnot has quickly gained popularity among collectors, especially during the COVID-19 pandemic when in-person shopping became difficult.
Series A Funding
Whatnot’s Series A funding round was led by Kumparak, a venture capitalist firm that specializes in funding early-stage technology companies. The round was also supported by other investors including YC Continuity, Operator Partners, Scribble Ventures, and Wonder Ventures. With this latest funding round, Whatnot’s total funding now stands at $23M.
According to the company’s CEO, Grant LaFontaine, the funding will be used to improve the platform’s technology, expand its team, and increase its marketing efforts. The company also plans to explore new product categories, including music memorabilia and gaming collectibles.
Impact on Collectibles Market
Whatnot’s success and growing popularity are indicative of the shifting trends in the collectibles market. As more and more consumers turn to online shopping and e-commerce, the demand for digital marketplaces like Whatnot is likely to increase. This has the potential to disrupt the traditional model of buying and selling collectibles, which has historically been dominated by physical marketplaces like flea markets and conventions. Whatnot 20m Serieskumparaktechcrunch.
The COVID-19 pandemic has also played a role in the growing demand for online marketplaces. With restrictions on in-person shopping, many collectors have turned to online platforms to find rare and sought-after items.
Conclusion
Whatnot’s recent Series A funding round represents a significant milestone for the company and the broader collectibles market. With the support of Kumparak and other investors, Whatnot is poised to become a major player in the online collectibles marketplace. As e-commerce and online shopping continue to grow, it will be interesting to see how Whatnot and other similar platforms evolve and shape the future of the collectibles market.
