What is LetGo?
Founded in 2015 and headquartered in New York, New York, LetGo operates as a digital platform facilitating local buying and selling through its app and website. The company has positioned itself as a key player in the online classifieds and resale market, enabling users to easily connect and transact within their communities. Its business model focuses on user-generated listings and local commerce, aiming to simplify the process of acquiring and disposing of goods.
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, Insight Venture Partners, FJ Labs, BlackPine Private Equity Partners, NextView Ventures, New Enterprise Associates, H14, and Accel Partners
Series C (2017): $175M supported by New Enterprise Associates, Naspers, Accel, Insight Venture Partners, and 14W
Unspecified (2018): $500M featuring Naspers
Key Investors in LetGo
Naspers
Naspers Limited is a South African multinational technology and internet company that invests in and operates a wide range of digital platforms globally. The company focuses on ecommerce, online services, and digital entertainment, partnering with and funding innovative businesses. Through its subsidiaries and investments, Naspers provides technology-driven solutions that connect people, enhance commerce, and foster growth in emerging and developed markets worldwide.
New Enterprise Associates
Established in 1977 and headquartered in Menlo Park, California. New Enterprise Associates(NEA) is a venture capital firm focused on helping entrepreneurs build businesses.
Insight Venture Partners
GO is a private platform purpose-built for Insight Partners' portfolio company leaders. GO unifies our 500+ software portfolio companies to foster connections, strengthen leadership, expand their brain trust, and provide support as they scale.
What's next for LetGo?
The recent major strategic investment signals a new phase of expansion for LetGo. This capital infusion is likely to fuel further development of its platform, enhance user acquisition strategies, and potentially explore new market verticals or geographical expansions. Given the enterprise-level nature of its funding, LetGo is poised to scale its operations significantly, reinforcing its competitive stance against other online marketplaces and continuing its trajectory in the digital commerce landscape.
See full LetGo company page
