The business platform reports $550M in monthly volume from about 25,000 operators and will use the funding for global expansion and R&D
Whop, a technology company headquartered in Palo Alto, California, announced on October 21, 2026 that it has raised a $200 million Series D at a $5.1 billion valuation. The round was led by Sequoia Capital and Shopify Ventures.
According to the company, the capital will accelerate global expansion and fund research and development to make payment and advertising markets more efficient. The round follows a $200 million strategic investment from Tether at a $1.6 billion valuation in February 2026.
Whop provides business operators with a gamified interface and an extensive API covering distribution, business creation and money. The company says roughly 25,000 business operators generate $550 million on the platform each month, more than 50,000 other people earn a monthly income by providing services to those businesses, and the platform facilitates more than $7 billion in on-platform transactions for people in 185 countries.
Whop’s customers range from heads of product at high-growth startups to 16-year-old first-time entrepreneurs, the company said. Most businesses on the platform serve specific customer needs rather than mass markets; examples given include invoicing software for trucking companies, emergency tree removal services, private jet booking platforms, neobanks for dropshippers and data suppliers for humanoid robotics companies.
“We take inspiration from the traditional economy in designing Whop, and because businesses are the primary conduit by which people earn money and create value, we focus on them as our primary customer,” said Steven Schwartz, co-founder and CEO of Whop.
“They’re doing about a half billion revenue, business is doing great, and we’re helping humanity create businesses for people who can’t find a job,” said Doug Leone, partner at Sequoia Capital, in the announcement. Bloomberg reported that Leone is joining Whop’s board of directors.
In the past three months Whop has launched Business Blueprints, which has been used to create more than 21,000 businesses in the six weeks since launch; the Whop CLI, which makes the company’s API compatible with any AI agent and, together with its MCP connectors, receives more than 350,000 calls per day from more than 14,700 monthly active users; and Economic Intelligence, a decision engine trained on millions of transactions that recommends the highest-ROI next move for each business.
Bloomberg also reported that the company recently passed $400 million in annualized run-rate revenue, up from $60 million at the start of 2025, and that earlier investors include Peter Thiel, A*, Insight Partners and Bain Capital Ventures. In addition to its Palo Alto headquarters, Whop has a New York office and is hiring in engineering, product, sales and operations. The company was founded in 2021 and employs about 110 people, Bloomberg reported.
