Whop has been valued at $5.1 billion in a $200 million Series D round led by Sequoia Capital and Shopify Ventures, the company said on 21 October.
The Palo Alto, California-based company had been valued at $1.6 billion in February, when Tether made a $200 million strategic investment. Bloomberg, which first reported the latest round, said Whop intends to open offices in Europe and Colombia.
Whop Series D Funding to Drive Global Expansion
Whop said the funding will accelerate global expansion and research and development on payment and advertising markets, which it aims to make more efficient.
How the Whop Platform Works
The company provides business operators with a gamified interface and an extensive API spanning distribution, business creation and money. Around 25,000 operators generate $550 million a month on the platform, according to the company, and more than 50,000 other people make a monthly income from work for those businesses. Whop says it has handled more than $7 billion in transactions on the platform, across 185 countries. Its customers range from heads of product at high-growth startups to 16-year-old first-time entrepreneurs.
“We take inspiration from the traditional economy in designing Whop, and because businesses are the primary conduit by which people earn money and create value, we focus on them as our primary customer,” said Steven Schwartz, co-founder and chief executive.
Businesses Built Around Niche Customer Needs
Whop said most businesses on the platform serve tightly defined customer needs, naming data suppliers for humanoid robotics companies, private jet booking platforms, invoicing software for haulage firms, neobanks for dropshippers and emergency tree removal services as examples. In its announcement, the company also pointed to a Forbes report that entry-level job opportunities are at an all-time low, and said it gives individuals a means of building their own income as AI calls traditional career paths into question.
Revenue Growth and Investor Backing
Bloomberg reported that annualised run-rate revenue recently passed $400 million, from $60 million at the start of 2025, and that Sequoia partner Doug Leone is joining the board. Most revenue is a percentage of each transaction processed on the platform, with Schwartz putting the blended average fee at about 6%. Earlier investors include Insight Partners, Bain Capital Ventures, Peter Thiel and A*, and the company employs about 110 people.
“They’re doing about a half billion revenue, business is doing great, and we’re helping humanity create businesses for people who can’t find a job,” Leone said in the announcement.
New AI and Developer Tools
Whop’s recent product releases include Business Blueprints, which gets a ready-to-sell business live in a few clicks and has been used to create more than 21,000 businesses in six weeks; the Whop CLI, which allows any AI agent to work with the company’s API and, with its MCP connectors, draws more than 350,000 calls a day from more than 14,700 monthly active users; and Economic Intelligence, which uses a model trained on millions of transactions to recommend each business’s highest-ROI next move.
Company Background
Founded in 2021, Whop has an office in New York and has openings across engineering, product, sales and operations.
