South Korean net giant Naver puts up €81 million for Wallapop


Spain-based second-hand marketplace Wallapop has received €81 million euros in a round led by the South Korean consumer Internet tech giant Naver Corp (updated to include latest from TechCrunch, additional reports from Korea’s Pulse News/ La Informacion).

Naver, an existing investor, is expected to participate via an investment from its LP venture capital vehicle, Korelya Capital, in which it is the largest shareholder.  The round will be recorded as an extension to Wallapop’s $191 million series G raise in February 2021, with the value adjusted from €690 million to €771 million. Also participating are existing investors Accel, 14W and Insight.

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