Live Shopping Platform Whatnot Raises $545 Million Series G at $20 Billion Valuation

Live shopping platform Whatnot announced on Friday the completion of its latest funding round, valuing the company at $20 billion, nearly double its valuation from less than a year earlier. The company said more than 650,000 new users join its platform each week, and gross merchandise value has surpassed the $8 billion record set in 2025. The number of buyers on the platform more than doubled over the past year.

The Series G round raised $545 million, led jointly by Iconiq, Lightspeed, and Avra. Grant LaFontaine, co-founder and chief executive of Whatnot, said in a statement that the proceeds will be used to invest in seller growth tools, bring artificial intelligence into more sales processes, help sellers reach more buyers, and expand into new markets. The company plans to continue building what it describes as the world's largest and most trusted trading platform.

Whatnot's funding history includes a $225 million Series F round in October 2025, led by DST Global and CapitalG, at a valuation of $11.5 billion, and a $265 million Series E round in January 2025 at a valuation of nearly $5 billion. Since its founding in 2019, the company has raised approximately $1.5 billion in total.

The live commerce market is currently valued at more than $22 billion, with Whatnot claiming roughly 60% market share. Meanwhile, competition from e-commerce platforms including eBay, Fanatics, and TikTok Shop Live is intensifying.