What happened
Palo Alto-based Whop closed a $200 million Series D led by Sequoia Capital and Shopify Ventures at a $5.1 billion valuation. Bloomberg reported the round.
Where the money goes
The company said the capital will fund its expansion abroad and research into payments and advertising. The plans include opening offices in Europe and Colombia.
Tether investment
According to the report, Tether invested $200 million in Whop, a figure on the same scale as the round itself.
Why it matters
Whop had said it shipped three products in three months, signaling a fast product cadence. The new round shows its intent to carry that pace into international markets.
