All the fundraising deals in the social commerce market (from Q2 2025 to Q2 2026)
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In our social commerce market deck, you will find everything you need to understand the market
Social commerce startups announced 19 funding rounds worth $532.5 million between Q2 2025 and Q2 2026.
Q4 2025 attracted the most social commerce funding because Whatnot and ShopMy raised two very large rounds.
Q2 2026 recorded the most deals, but most social commerce rounds remained at seed or early-stage level.
And if you want to better understand this new industry, you can download our pitch covering the social commerce market.
Insights
- Live social commerce captured $293.7 million, or 55.2% of total social commerce funding, although the category represented only five of the 19 deals.
- Whatnot alone raised $225 million, which represented 42.3% of all social commerce funding announced during the five-quarter period.
- Q4 2025 generated $311.2 million, but Whatnot and ShopMy accounted for 94.8% of that quarter's social commerce funding.
- Q2 2026 produced six deals, the highest quarterly count, but the average social commerce round was only $8.1 million.
- Creator-led commerce attracted $107.7 million across four deals, with rounds ranging from Paage's $2.2 million seed to ShopMy's $70 million financing.
- Messaging commerce companies usually raised smaller rounds because most products are still building integrations, improving AI agents and testing regional expansion.
- North American social commerce companies secured the largest marketplace rounds, while European companies attracted more funding for tools and specialist platforms.
- India supported two distinct social commerce models: creator-led product recommendations through Wishlink and community-led distribution through CityMall.
- Only three investors completed more than one disclosed deal, which shows that the social commerce investor base remained broad and fragmented.
- The ten largest rounds captured 93.2% of social commerce funding, leaving only $36.3 million for the other nine deals.
This market map, featured in our social commerce market deck, highlights top companies and startups in the social commerce market
Summary table of the funding deals in the social commerce market (last 5 quarters)
We define social commerce as e-commerce transactions that are initiated from social platforms, including organic content, creators, live content and paid social ads.
We include in-app checkout, click-through purchases on merchant sites and DM-assisted ordering when a purchase is clearly initiated through social content or messaging.
We exclude commerce that is only loosely influenced by social activity and general marketplaces that are not primarily driven by social-platform initiation.
You can also read our detailed analysis to understand how funding activity in the social commerce market has evolved over the last few years.
Also, you should know that we have a dedicated page, updated weekly, with all the latest fundraising deals in the social commerce market.
| Name | What they do | Amount in $ | Quarter |
|---|---|---|---|
| Palmstreet | Runs live shopping broadcasts for plants, collectibles, crafts and other specialist products in North America. | $25.0M | Q2 2025 |
| Nectar Social | Uses AI agents to convert social comments and direct messages into measurable product purchases. | $10.6M | Q2 2025 |
| FERMAT | Creates personalized shopping pages for customers arriving from individual paid-social advertisements. | $45.0M | Q2 2025 |
| CityMall | Uses local community leaders to recommend and distribute affordable products across smaller Indian cities. | $41.0M | Q3 2025 |
| YASO | Helps international brands sell through Chinese social and e-commerce channels such as Douyin and RedNote. | $11.1M | Q3 2025 |
| TextYess | Automates product recommendations, customer support and cart recovery through WhatsApp conversations. | $2.7M | Q3 2025 |
| Unbox | Manages shoppable content, creator campaigns, product feeds and orders across social-commerce channels. | $1.6M | Q3 2025 |
| ShopMy | Connects premium brands with creators who recommend products through storefronts and affiliate links. | $70.0M | Q4 2025 |
| Whatnot | Runs live auctions where sellers present products and shoppers chat, bid and purchase in real time. | $225.0M | Q4 2025 |
| Paage | Gives creators one workspace for content, audience management, payments and product sales. | $2.2M | Q4 2025 |
| Vambe | Uses AI agents to manage sales conversations and product recommendations through business messaging channels. | $14.0M | Q4 2025 |
| Statusphere | Automates product seeding, creator matching, content rights and influencer campaign measurement. | $18.0M | Q1 2026 |
| Wishlink | Helps Indian creators recommend products while brands track resulting visits and sales. | $17.5M | Q1 2026 |
| nFuse | Processes supplier orders sent through WhatsApp, Viber or SMS using text, images and voice messages. | $2.0M | Q2 2026 |
| Siin | Runs interactive livestream-shopping sessions for consumers and sellers across the Gulf region. | $3.0M | Q2 2026 |
| District | Lets creators build interactive shops, live auctions and paid online communities without coding. | $14.7M | Q2 2026 |
| Wassist | Provides AI agents that recommend products and support purchases through WhatsApp. | $1.1M | Q2 2026 |
| Tilt | Runs live auctions for fashion, collectibles and other products across the United Kingdom and Europe. | $26.0M | Q2 2026 |
| Revora | Uses AI agents to manage product discovery, purchases and support inside customer conversations. | $2.0M | Q2 2026 |
In our social commerce market deck, we identify pain points entrepreneurs should prioritize
How has funding activity in the social commerce market changed over time?
Q4 2025 was the largest social commerce funding quarter, mainly because Whatnot raised $225 million and ShopMy raised $70 million.
Q1 2026 was the smallest quarter, with only two deals and $35.5 million raised.
Social commerce funding increased by 37.5% from Q1 2026 to Q2 2026, but Q2 2026 funding was 39.5% lower than Q2 2025.
Without the largest one or two deals in each quarter, social commerce funding was much steadier. Most quarters supported several rounds between $1 million and $18 million rather than repeated mega-deals.
| Quarter | Number of deals | Total raised ($) | Comment |
|---|---|---|---|
| Q2 2025 | 3 | $81M | FERMAT generated more than half of the quarter's social commerce funding. |
| Q3 2025 | 4 | $56M | CityMall dominated a quarter that otherwise contained three smaller software rounds. |
| Q4 2025 | 4 | $311M | Whatnot and ShopMy created an exceptional quarter for live and creator commerce. |
| Q1 2026 | 2 | $36M | Statusphere and Wishlink produced two similarly sized creator-commerce rounds. |
| Q2 2026 | 6 | $49M | Deal activity reached a five-quarter high, but most rounds remained relatively small. |
| All quarters | 19 | $533M | The social commerce market combined frequent early-stage deals with a few very large platform financings. |
This chart, featured in our social commerce market deck, shows how Whatnot is winning in social commerce
Which startups in the social commerce market raised the largest rounds over the last months?
These startups raised the most recently in the social commerce market:
- Whatnot raised $225 million to expand into more countries and categories while improving live video, discovery and seller tools.
- ShopMy raised $70 million to grow its creator network, attract more premium brands and expand internationally.
- FERMAT raised $45 million to help large brands turn more paid-social visitors into customers through personalized shopping pages.
- CityMall raised $41 million in equity to expand its community-led commerce network across more Indian cities and product categories.
- Tilt raised $26 million to add AI seller tools, improve product discovery and expand across Europe and the United States.
- Palmstreet raised $25 million to move beyond plants and build live shopping communities around more specialist product categories.
- Statusphere raised $18 million to expand its influencer campaign software and improve measurement for large consumer brands.
- Wishlink raised $17.5 million to add more Indian creators, brands and technology for attributable product recommendations.
- District raised $14.7 million to launch its platform publicly and help creators build shops, auctions and paid communities.
- Vambe raised $14 million to improve its conversational AI agents and expand messaging-led commerce across Latin America.
And, yes, we do cover most of them in our our beautiful pitch about the social commerce market.
You may also want to check our ranking of the most funded startups in the social commerce market as well as our list of the most valued startups.
This chart, featured in our social commerce market deck, illustrates yearly funding for social commerce startups
Is the social commerce market shifting toward smaller or bigger deals?
The average social commerce funding round was $28.0 million across the five quarters, but this figure was heavily increased by Whatnot's $225 million round.
The quarterly average ranged from $8.1 million in Q2 2026 to $77.8 million in Q4 2025. Q4 2025 was unusually high because two large social commerce platforms raised $295 million combined.
Without the largest outlier, the average social commerce deal falls to about $17.1 million, which better reflects the market's mix of seed and Series A rounds.
| Quarter | Number of deals | Average deal size ($) | Deals below $2M | Deals above $50M |
|---|---|---|---|---|
| Q2 2025 | 3 | $26.87M | 0 | 0 |
| Q3 2025 | 4 | $14.10M | 1 | 0 |
| Q4 2025 | 4 | $77.80M | 0 | 2 |
| Q1 2026 | 2 | $17.75M | 0 | 0 |
| Q2 2026 | 6 | $8.13M | 1 | 0 |
| All quarters | 19 | $28.03M | 2 | 2 |
This chart, featured in our social commerce market deck, compares the main business model options for social commerce marketplaces
How concentrated was funding activity in the social commerce market?
Social commerce funding was highly concentrated because Whatnot represented 42.3% of all capital raised, while the three largest rounds represented 63.8%. The concentration was strongest in Q4 2025.
However, Q2 2026 showed a broader social commerce funding base because six companies raised capital and the largest deal represented 53.3% of the quarter.
| Quarter | Number of deals | % by Top 1 | % by Top 3 | % by Top 10 |
|---|---|---|---|---|
| Q2 2025 | 3 | 55.83% | 100.00% | 100.00% |
| Q3 2025 | 4 | 72.70% | 97.16% | 100.00% |
| Q4 2025 | 4 | 72.30% | 99.29% | 100.00% |
| Q1 2026 | 2 | 50.70% | 100.00% | 100.00% |
| Q2 2026 | 6 | 53.28% | 89.55% | 100.00% |
| All quarters | 19 | 42.25% | 63.85% | 93.18% |
This chart, featured in our social commerce market deck, breaks down market revenue by customer segment in the social commerce market
Which categories in the social commerce market received the most funding?
Live social commerce raised $293.7 million, or 55.2% of total funding, mainly because Whatnot completed a $225 million late-stage round. Investors appear willing to fund live marketplaces once strong buyer and seller networks are established.
Creator-led commerce raised $107.7 million, or 20.2% of social commerce funding. ShopMy attracted most of this capital by connecting measurable creator recommendations with premium brand sales.
Social commerce platforms raised $53.7 million, or 10.1% of the total. CityMall accounted for most of the category because its community-led model supports commerce and distribution across smaller Indian cities.
| Category name | Number of deals | Total raised ($) | Startups and amount |
|---|---|---|---|
| Live Social Commerce | 5 | $293.7M | Palmstreet ($25.0M), Whatnot ($225.0M), Siin ($3.0M), District ($14.7M), Tilt ($26.0M) |
| Creator-Led Commerce | 4 | $107.7M | ShopMy ($70.0M), Paage ($2.2M), Statusphere ($18.0M), Wishlink ($17.5M) |
| Social Commerce Platforms | 3 | $53.7M | CityMall ($41.0M), YASO ($11.1M), Unbox ($1.6M) |
This chart, featured in our social commerce market deck, shows how in-app storefront platform technology has evolved over time
Who are the biggest investors in the social commerce market?
Andreessen Horowitz was the most active social commerce investor, with three deals involving Palmstreet, Whatnot and District. The firm backed both large marketplaces and creator-commerce infrastructure.
Bain Capital Ventures participated in two deals involving FERMAT and ShopMy. Both companies help brands convert social audiences into measurable sales.
Elevation Capital participated in two Indian social commerce deals involving CityMall and Wishlink. The investments covered community-led distribution and creator-led product recommendations.
Disclaimer: this investor list may be incomplete; we focus on publicly disclosed lead and prominent recurring investors, so some frequent minority participants may be underrepresented. “Total funded” does not represent the amount personally invested by an individual investor. Instead, it refers to the aggregate amount raised across all fundraising rounds in which the investor participated.
| Investor | Number of deals | Total funded ($) | Startups |
|---|---|---|---|
| Andreessen Horowitz | 3 | $264.7M | Palmstreet, Whatnot, District |
| Bain Capital Ventures | 2 | $115.0M | FERMAT, ShopMy |
| Elevation Capital | 2 | $58.5M | CityMall, Wishlink |
This chart, featured in our social commerce market deck, shows how creator-driven commerce has driven growth in the social commerce market over time
Related blog posts
- A full list of funding deals in social commerce
- The startups that have raised the most funding in social commerce
- How strong is fundraising in the social commerce market right now?
