The company, which is also backed by Andreessen Horowitz and SV Angel, will use the funds for further development of its mobile app.
Listia allows its four million users to trade unwanted items for credits, which can be spent on any item listed for sale. The marketplace has seen a twofold increase in mobile activity with more than 20 per cent of trades made via Listia’s app on Android and iOS.
General Catalyst managing director Neil Sequeira said, “We landscaped the entire trading marketplace because we believe it is a powerful and largely untapped multi-billion dollar market set to disrupt commerce and consumption.
“Listia rose to the top as the clear marketplace leader due to its remarkable traction, compelling mobile experience, strong monetization and astonishing consumer engagement.”
Listia CEO Gee Chuang noted that “the average home in America is riddled with over $7,000 in unused stuff, so we’re thrilled to help people leverage that value to get things they actually want.”
Last month General Catalyst participated in a $15m financing round for cloud-based payment and ATM access business Paydiant.
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