Balderton and Holtzbrinck lead $8m series-A for Depop

Following completion of the deal, Depop will open a New York office and appoint former Reddit general manager Erik Martin to head its US operations.

Balderton stated it was attracted to the deal by Depop's international user base and recent US growth.

Previous funding
Balderton and Holtbzrinck took part in a €2m seed round for Depop alongside other investors in 2012.

Company
Founded in Milan in 2011, Depop is an app allowing users to buy and sell items by sharing images taken on their smartphones. The company, which initially became popular among fashion bloggers, moved its headquarters to London in 2012. The app has been downloaded 1.8 million times across Apple's iOS and Google's Android operating systems.

People
Roberto Boninziga is a venture partner at Balderton Capital. Runar Reistrup is CEO of Depop.

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• Topics
• Expansion
• Technology
• UK / Ireland
• United Kingdom
• Balderton Capital
• Holtzbrinck Ventures