Whop completes $200 million Series D funding, valued at $5.1 billion

The online business platform Whop has completed a $200 million Series D financing, with a post investment valuation of $5.1 billion, led by Sequoia Capital and Shopify Ventures. In February 2026, Tether made a $200 million strategic investment in Whop at a valuation of $160 million. Currently, about 25000 merchants conduct business through Whop, generating approximately $550 million in monthly transaction volume on the platform.