Whop Secures $200 Million Series D Co-Led by Sequoia and Shopify Ventures at a $5.1 Billion Valuation

BlockBeats news, October 22 — Online commerce platform Whop announced on October 21 that it has completed a $200 million Series D funding round, reaching a post-money valuation of $5.1 billion. The round was co-led by Sequoia Capital and Shopify Ventures, the investment arm of Shopify. Some market reports recorded the funding amount as $205 million, but the company's official announcement of $200 million is authoritative.

This funding comes less than a year after Whop's previous round. In February 2026, Tether made a $200 million strategic investment in Whop at a $1.6 billion valuation, and the company's valuation has more than tripled in less than a year.

Headquartered in Palo Alto, Whop was founded in 2021 by three founders who met as teenagers while developing sneaker release tracking software. Co-founder Steven Schwartz currently serves as CEO. The platform serves individual entrepreneurs and small merchants, offering one-stop infrastructure from business setup and payment distribution to operational tools. Currently, about 25,000 merchants conduct business through Whop, generating approximately $550 million in transaction volume on the platform each month, and the platform also creates income sources for more than 50,000 related service providers. Its revenue mainly comes from commissions on platform transactions, with a comprehensive average rate of about 6%.