Whop has secured $205 million in a Series D funding round, bringing the company's valuation to $5.1 billion. The investment is led by Sequoia Capital, with participation from the venture arm of Shopify. Doug Leone, who returned to Sequoia as chairman in March 2026, has joined the Whop board as part of the deal.
Founded in 2021 by Steven Schwartz, Cameron Zoub, and Jack Sharkey, Whop provides a platform for managing online businesses. The company reports that approximately 25,000 operators generate $550 million monthly through its services, while 10,000 new businesses are launched on the platform daily. Whop earns revenue primarily through a 6% average transaction fee.
The company's annualized revenue has surpassed $400 million, according to CEO Steven Schwartz. This latest round follows a February 25 investment of $200 million from Tether, which previously valued the startup at $1.6 billion. The new capital is earmarked for global expansion and research and development.
Whop is currently developing an AI-powered decision engine designed to assist merchants in increasing their profits. The platform's existing user base includes diverse businesses ranging from music playlist curators to private jet chartering services. Early investors in the company include Peter Thiel, A-Star Capital, Insight Partners, and Bain Capital Ventures.
