Whop raises a $200M Series D at a $5.1B valuation led by Sequoia and Shopify Ventures

Whop has raised a $200 million Series D led by Sequoia and Shopify Ventures at a $5.1 billion valuation, eight months after Tether invested $200 million at $1.6 billion.

Founded in 2021 and led by co-founder and CEO Steven Schwartz, Whop gives online business operators the tools to start a business, sell, get paid and find customers, through an app and an API. About 25,000 operators generate $550 million a month on the platform, and Whop says it has facilitated more than $7 billion in transactions across 185 countries. Annualised revenue is above $400 million, up from $60 million at the start of last year.

Doug Leone, back to active investing at Sequoia, joins the board. The money goes to global expansion and to R&D in payments and advertising, with new offices planned in Colombia and across Europe.

The read: Sequoia is backing payments volume from small online sellers, not the AI trade.