Whop raises $200M Series D at $5.1B valuation

Whop, a platform for launching online businesses, closed a $200 million Series D at a $5.1 billion valuation. The round was co-led by Sequoia Capital and Shopify Ventures, following Tether's $200 million investment at a $1.6 billion valuation in February. Annualized revenue has passed $400 million.

• $200M round at $5.1B valuation co-led by Sequoia and Shopify Ventures
• Tether invested $200M at a $1.6B valuation in February
• Annualized revenue grew from $60M in early 2025 to $400M
• About 25,000 business operators generate $550M per month