LetGo raises $175M

What does LetGo do?

LetGo, is the fastest growing mobile marketplace for buying and selling locally. This app has 20 million monthly active users buying and selling billions of dollars worth items every month. From clothing to electronics to furniture and cars, the app makes it easier than ever for users in selling what they do not want and in finding great deals close by what they do. Users can post items for sale in just seconds by just clicking a photo because of its advanced proprietary technology does the rest. It is the only application of its kind with AI and image recognition which automatically title and categorizes a seller’s item. User can browse items easily for sale close by and chatting instantly in the application.

.How much LetGo was funded?

The company raised $175M in Series C on January 17, 2017 on FJ Labs, Eight Roads Ventures, Mangrove Capital Partners, 14W, Insight Venture Partners, New Enterprise Associates, Naspers and Accel Partners

Previous funding

$100M in Series A on September 3, 2015 from Naspers

$100M in Series B on May 12, 2016 from FJ Labs,  Northzone, Insight Venture Partners, New Enterprise Associates, Naspers, Accel Partners and  Eight Roads Ventures

What is next for LetGo?

LetGo plans on using the latest funding raised for accelerating U.S. and international growth, and for boosting its already significant investment in fields such as image recognition and AI. The company aims at building the largest second hand marketplace in the world and its latest funding will bring it closer to its vision.

More about LetGo

LetGo was founded in 2015 by Jordi Castello, Enrique Linares and Alec Oxenford. It has its headquarters in New York, New York. The company was named as one of the “Hottest Startups” of 2016 by Wired and was among the 2016’s “Best Apps” by Google.