Secondhand marketplaces are splitting into two categories that matter to investors. P2P platforms like Vinted and Depop compete on trust and community. B2C recommerce like Rebag and Back Market compete on quality control and buyer confidence. These 18 investors have backed one or both models in the past 18 months. They care more about your take rate and fraud prevention than your sustainability messaging.
Accel: Led Vinted's $340M Series F at $5B valuation in 2024, focusing on peer-to-peer fashion resale across Europe.
General Atlantic: Backed ThredUp's $168M PIPE financing in 2024 to expand managed marketplace operations.
Index Ventures: Early investor in Depop before the $1.6B Etsy acquisition, now backing vertical-specific resale platforms.
DST Global: Led Back Market's $510M Series E at $5.7B valuation for refurbished electronics marketplace.
Eurazeo: Invested in Vestiaire Collective's $216M Series E for luxury fashion resale in 2024.
Goodwater Capital: Backed Poshmark before the $1.2B Naver acquisition, now investing in category-specific P2P platforms.
GGV Capital: Led 5Miles and OfferUp investments, focusing on general merchandise P2P marketplaces.
Northzone: Early investor in Depop and Vinted, continues backing European secondhand marketplace models.
Bain Capital Ventures: Invested in The RealReal's growth rounds and multiple luxury resale platforms.
Lightspeed Venture Partners: Backed Rebag's $33M Series E for luxury handbag authentication and resale in 2024.
Insight Partners: Led StockX's $255M Series E at $3.8B valuation for sneaker and streetwear resale in 2024.
Forerunner Ventures: Early investor in Rebag and multiple women's fashion resale platforms.
FJ Labs: Invested in 50+ marketplace startups including several secondhand platforms across categories.
Northzone: Backed Tise (Norway's Vinted competitor) and multiple Nordic secondhand marketplaces.
Greycroft: Invested in Mercari's US expansion and peer-to-peer general merchandise platforms.
Target Global: Backed Wallapop's €157M Series H for Spanish P2P marketplace in 2024.
Spark Capital: Early investor in Letgo before merger with OfferUp, continues backing P2P platforms.
RTP Global: Invested in European and emerging market secondhand marketplaces with network effects.
Experience: Find investors who've backed marketplaces through the chicken-and-egg problem of building supply and demand simultaneously. Most secondhand platforms die because they prioritize buyers over sellers or vice versa.
Network: Check if they can intro you to payment processors who handle seller payouts or fraud detection companies. That matters more than generic e-commerce connections when you're moving money between strangers. Strong operational networks aligned with real security needs give you an edge.
Alignment: Seed investors often don't understand why take rates need to stay low (under 20%) to compete with Facebook Marketplace and Craigslist. Make sure they've funded marketplaces that reached scale before.
Track record: Look at whether their portfolio companies solved trust and authentication at scale. Dead secondhand marketplaces usually failed on fraud or fake listings, not demand. This is especially valuable when testing interest in your pitch deck during a fast fundraising cycle.
Communication: Use Ellty to share your deck with trackable links. You'll see who actually opens your unit economics showing take rate and seller retention versus who just skims the pitch.
Value-add: Ask what operational support they provide during scaling moderation and fraud detection. Generic "we have great marketplace expertise" answers are useless when you need to decide between manual review and AI moderation.
Identify potential investors: Check Crunchbase for investors who backed P2P or B2C marketplaces in the past 2 years. Early-stage funds won't lead your Series B when you need $30M for European expansion. Use targeted searches across investor updates to understand how they track performance.
Craft a compelling pitch: Show your GMV growth and take rate trajectory. Most investors are tired of sustainability pitches without proof your sellers actually list items consistently and buyers come back monthly. Show why your model works and how it fits modern startup fundraising expectations.
Share your pitch deck: Upload to Ellty and send trackable links. Monitor which pages investors spend time on - if they skip your fraud prevention slides, that's useful information about whether they understand marketplace risk.
Utilize your network: Message founders at Vinted, Depop, or Mercari on LinkedIn and ask about their investors' helpfulness during trust and safety crises. Most will be honest about who actually helped versus who panicked. Their insights often guide you to the right startups ecosystem for your model.
Attend networking events: Marketplace Conference and a16z's Marketplace Summit are where secondhand marketplace deals actually happen. Skip the generic sustainability conferences.
Engage on online platforms: Connect with partners on LinkedIn after you've been introduced by a portfolio founder. Cold DMs to marketplace investors rarely work unless you have exceptional GMV metrics.
Organize due diligence: Set up an Ellty data room with your cohort analysis, seller retention data, and fraud rate metrics before they ask. It speeds up the process when they want to model your take rate expansion.
Set up introductory meetings: Lead with your monthly active sellers and repeat buyer rate. Don't waste 20 minutes on market size slides about the circular economy - they've seen them 200 times.
Gen Z treats resale as primary shopping, not just a sustainability choice. Depop and Vinted grew 40-60% annually from 2023-2025 while traditional e-commerce slowed. Investors betting this behavior sticks are backing platforms with strong seller retention.
Authentication technology improved enough that luxury resale platforms can scale without hiring 500 manual authenticators. StockX and Rebag proved you can automate trust at high GMV. Investors want to back platforms applying this tech to new categories like electronics, furniture, and sporting goods.
Accel led Vinted's massive Series F and understands P2P marketplace dynamics better than most. They won't panic when your take rate is 5% if seller retention is strong.
General Atlantic backs managed marketplaces like ThredUp where you control inventory and quality. They prefer B2C recommerce over P2P models because margins are more predictable.
Index Ventures made money on Depop's exit to Etsy and now backs vertical-specific resale platforms. They understand why niche categories (vintage, streetwear, designer) have better unit economics than general fashion.
DST Global led Back Market's $510M round when most investors thought refurbished electronics was too risky. They'll fund platforms with low take rates if GMV growth is exceptional.
Eurazeo invested in Vestiaire Collective and understands luxury authentication at scale. They have connections to luxury brands for potential partnerships that most VCs don't.
Goodwater Capital backed Poshmark before the Naver acquisition and made strong returns. They invest in social commerce features that drive organic discovery in secondhand marketplaces.
GGV Capital led OfferUp's growth rounds and understands general merchandise P2P marketplaces. They're comfortable with platforms that compete directly with Facebook Marketplace and Craigslist.
Northzone was early in both Depop and Vinted and made exceptional returns. They back European secondhand marketplaces before US expansion.
Bain Capital Ventures invested in The RealReal through multiple rounds and understands luxury consignment economics. They're patient with platforms that need years to reach positive unit economics.
Lightspeed Venture Partners led Rebag's Series E and backs platforms solving authentication without manual review. They prefer vertical-specific marketplaces over horizontal platforms.
Insight Partners led StockX's Series E at a $3.8B valuation and understands sneaker and streetwear authentication. They back platforms where scarcity and hype drive premium pricing.
Forerunner Ventures was early in Rebag and multiple women's fashion resale platforms. They understand why female buyers drive most secondhand marketplace GMV.
FJ Labs invested in 50+ marketplace startups and moves faster than traditional VCs. They'll fund you if marketplace dynamics work, even in weird categories other investors ignore.
Tiger Global backed Poshmark, Mercari, and multiple international resale platforms. They write large checks fast if GMV growth is strong.
Greycroft invested in Mercari's US expansion and understands localized marketplace competition. They're comfortable with platforms that need different strategies per market.
Target Global led Wallapop's Series H and backs European marketplaces competing with US platforms. They understand why Spain and France have different marketplace dynamics than the US.
Spark Capital was early in Letgo before the OfferUp merger and continues backing P2P platforms. They understand why simplicity beats features in general merchandise marketplaces.
RTP Global invested in European and emerging market secondhand marketplaces where network effects compound faster. They back platforms in markets US investors ignore.
These 18 investors closed secondhand marketplace deals from 2025 to 2026. Before you start reaching out, set up proper tracking so you know who's serious about your GMV trajectory.
Upload your deck to Ellty and create a unique link for each investor. You'll see exactly which slides they view and how long they spend on your marketplace dynamics versus your environmental impact claims. Most founders are surprised to learn investors skip the sustainability mission slides but spend 5+ minutes on take rate expansion plans and fraud prevention strategies.
When investors ask for more materials, share an Ellty data room instead of messy email threads with your seller cohort data, fraud metrics, and unit economics model. You'll know if they actually opened your repeat buyer analysis or just asked for it to seem thorough.
Should I build a P2P marketplace or managed recommerce model?
P2P scales faster with lower overhead but has thin take rates (5-15%) and higher fraud risk. Managed marketplaces like ThredUp have better margins (40-60%) but require warehouse operations and inventory risk. Investors prefer whichever model you can execute well, not a hybrid that does both poorly.
What take rate should I target?
P2P fashion marketplaces sit at 5-12% because you're competing with Facebook Marketplace at 0%. Luxury and authenticated platforms can charge 15-25% because trust matters more than price. If your take rate is above 20% for general merchandise, you need an exceptional value proposition.
How do secondhand marketplace investors evaluate fraud risk?
They want to see your fraud rate (should be under 1% of GMV) and how you handle disputes. Most platforms die when fraud spikes above 2-3% because sellers leave. Show them your manual review process or AI moderation strategy and expected costs at scale.
Do I need authentication technology for non-luxury categories?
Electronics and sneakers need it. Fashion under $100 usually doesn't unless you're fighting counterfeit Nike and Adidas. Furniture and general merchandise can rely on buyer/seller ratings and dispute resolution. Don't build authentication tech unless fraud is actually killing your marketplace.
What seller retention rate do investors expect?
Active sellers should list at least monthly. If only 20% of sellers list a second time, your marketplace won't scale. Good platforms see 40-60% of sellers list multiple items in their first 90 days. Vinted and Depop are closer to 70% because social features drive repeat listing.
When should I set up investor tracking?
Before you send your first deck. Use Ellty to see which investors actually open your marketplace metrics versus which ones ghost you after the intro. If someone requests your deck but never opens the GMV growth slides, don't waste time on a follow-up call.