According to reports, Wallapops has raised $88 million for its P2P marketplace expansion. This is a Spanish form that facilitates purchasing and selling 2nd-hand products. It will make use of this new capital to grow in Europe. Also, it is going to invest in R&D (research and development).
The P2P marketplace has already expanded into Italy and Portugal. It started in Spain about 10 years ago, according to reports.
The expansion of Wallapop was beneficial to many for its purposes. It facilitated a more human or conscious way of consumption. It creates economic opportunities for people across the globe.
The South Korean eCommerce group is leading the latest investment of Wallapop. It purchased Poshmark in 2022. Poshmark is the 2nd-hand apparel social marketplace of America.
Poshmark acquisition has energized the resale sector. Earlier, the investors were fleeing. The valuations were declining as well. The firm has encountered growth and value opportunities in the resale sector. It is because the economic elements are operating in the platform’s favor. It allows the consumers to make money. They can do so by saving money and selling stuff by purchasing used products.
The platform has an opportunity of turning 2nd-hand luxury purchasers into investors and sellers. There was a prediction that some powerful trends would emerge. One of them is the desire for sustainable commerce. And the other one is the consumers are moving to a mindset of investors. They are investing in great products that will last. As per reports, Wallapop has 15 million users every month.
The team is focusing on driving the reusing revolution inside Southern Europe. It prioritizes a strong growth model. It allows us to improve the impact while scaling the ecosystem. Also, it will lead to a unique inventory environment. And the good news is that it will continue to expand.
The evolving technology and tools are also contributing a lot. Consumer demands are changing, and new things are essential for further expansion.
