Live-selling platform Whatnot secures $545 million Series G, valuation jumps to $20 billion

Whatnot, the live-streaming marketplace that started in a Funko Pop-laden rental home, closed a $545 million Series G financing that pushed its valuation to $20 billion, almost twice the $11.5 billion figure from its October 2025 round. The round was spearheaded by ICONIQ, Lightspeed and Avra, with fresh capital from Kleiner Perkins, Wellington Management and Standard Capital, while long-time supporters such as Andreessen Horowitz, Bond, DST Global, Greycroft and CapitalG also took part.

CapitalG managing partner Laela Sturdy highlighted the company’s growth from five U.S. collectibles categories in 2021 to hundreds of categories spanning several countries today. Fortune previously reported that Whatnot has processed over one billion orders and has accumulated about $1.5 billion in funding since its 2019 launch. The platform has faced criticism over gambling-like spending patterns, which it says it mitigates by banning raffles and lotteries. CEO and co-founder Grant LaFontaine said the firm prefers to stay private for now but will consider an IPO when the timing is right.