LetGo Closes $100 Million

Mobile marketplace LetGo completed $100 million in financing from a large group of investors that includes 14W, Accel Partners, Eight Roads, FJ Labs, Insight Venture Partners, Mangrove Capital Partners, Naspers Ventures, New Enterprise Associates, NextView Ventures, and Northzone Ventures.

LetGo is a fast growing mobile marketplace that allows people to buy and sell locally with minimal effort. It has had more than 45 million downloads, and it currently has 20 million active users monthly. The LetGo app makes it easier for users to sell what they don’t need and find great deals nearby on what they do — everything from electronics and clothing to cars and furniture. Users can post items for sale in just seconds by simply uploading photos. The company claims that LetGo is the only app of its kind with artificial intelligence and image recognition technology that automatically titles and categorizes sellers’ items.

LetGo was named one of 2016’s “Hottest Startups” by Wired and the app has been ranked among the year’s “Best Apps” by Google.