What is LetGo?
Founded in 2015 and headquartered in New York, New York, LetGo operates as a digital marketplace facilitating the buying and selling of goods between local users. The platform aims to simplify the process of discovering and listing items, fostering a dynamic environment for second-hand commerce. Its user-friendly interface and focus on local connections position it as a key player in the mobile classifieds and peer-to-peer selling space.
How much funding has LetGo raised?
LetGo has raised a total of $875M across 4 funding rounds:
Series A
$100M
Series B
$100M
Series C
$175M
Unspecified
$500M
Series A (2015): $100M with participation from Naspers Limited
Series B (2016): $100M led by Eight Roads Ventures, Naspers, Northzone, Accel Partners, FJ Labs, NextView Ventures, New Enterprise Associates, H14, Insight Venture Partners, and BlackPine Private Equity Partners
Series C (2017): $175M supported by New Enterprise Associates, Naspers, 14W, Accel, and Insight Venture Partners
Unspecified (2018): $500M featuring Naspers
Key Investors in LetGo
Naspers Limited
Naspers Limited is a global internet and technology group that invests in and operates a wide range of digital platforms. Their focus on ecommerce and online services makes them a strategic partner for companies like LetGo, aiming to foster growth in emerging and developed markets.
New Enterprise Associates
New Enterprise Associates (NEA) is a prominent venture capital firm with a long history of backing technology and healthcare companies. Their investment in LetGo indicates a belief in the company's disruptive potential within the online marketplace sector.
Insight Venture Partners
Insight Venture Partners is a global venture capital and private equity firm specializing in scaling software and internet-enabled companies. Their involvement suggests a strategic interest in LetGo's growth and operational efficiency.
What's next for LetGo?
With the infusion of major enterprise-level funding and a recent strategic investment, LetGo is poised for accelerated growth and market expansion. This capital injection is expected to fuel further development of its platform, enhance user acquisition strategies, and potentially explore new service verticals. The company's trajectory suggests a focus on solidifying its position as a leading local marketplace, leveraging its technological capabilities to drive user engagement and transaction volume.
See full LetGo company page
