Shopify Ventures, the venture arm of Shopify, has co-led a $200 million Series D in Whop alongside Sequoia Capital. The deal values the Palo Alto, California, company at $5.1 billion.
It is Whop’s second $200 million raise of 2026, after a strategic investment from Tether in February at a $1.6 billion valuation. Whop said the new money will go toward global expansion and research and development on payment and advertising markets, which it aims to make “radically more efficient.”
Business operators on Whop get a gamified interface and an extensive API, which the company says powers distribution, business creation, and money. About 25,000 of them generate $550 million on the platform every month, according to the announcement, and more than 50,000 other people earn a monthly income serving those businesses. On-platform transactions total more than $7 billion to date, reaching people in 185 countries.
At the start of October, Whop announced that it now supports ecommerce stores end-to-end, with native multi-product checkout, variants, inventory and itemized sales tax. A store can be built from scratch or started from a Blueprint, is hosted on Whop for free at a .whop.site address, and an existing business can be imported in one click, the company said. The launch came three weeks before Shopify Ventures co-led the round.
A store started from a Blueprint arrives as a copy of a business already running on Whop, with products, pricing and checkout included, so it can take payments as soon as it is deployed. Every Whop site carries the company’s pixel from the start, and the analytics page shows visitor count, page views and the revenue attributed to the store. Whop says more than 21,000 businesses have been created through Blueprints in the six weeks since launch, and whoever publishes a blueprint earns 10% of Whop’s profit on the sales made by stores deployed from it.
Day-to-day store operations can be handed to AI agents through the Whop CLI, which debuted in July. According to the company’s launch post, everything you can do from the Whop dashboard can be run from a terminal, and agents such as Claude, Codex, and Cursor can discover and run the commands themselves, with every action logged. Setting pricing, creating checkout links, running ads, moving money and reporting are among the uses the post lists. The CLI installs with a single command, and together with Whop’s MCP connectors it sees upwards of 350,000 calls a day; monthly active users number more than 14,700.
Economic Intelligence, released in the same three-month window, is a decision engine trained on millions of transactions. For each business it recommends the next move with the highest ROI, and businesses pay for it with an additional percentage of the revenue they earn through it.
Whop said most of the businesses running on it serve hyper-specific customer needs, and that the internet has made customer groups viable that were once too small or too fragmented to build a business around. Its examples ran from neobanks for dropshippers and invoicing software for trucking companies to private jet booking platforms, emergency tree removal services and data suppliers for humanoid robotics companies. Customers include product leads at fast-growing startups and 16-year-olds starting a first business.
“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, Whop’s co-founder and CEO.
Sequoia partner Doug Leone is joining Whop’s board, Bloomberg reported. “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,” Leone said in the announcement. Shopify Ventures and Sequoia join earlier investors Peter Thiel, A*, Insight Partners and Bain Capital Ventures, according to Bloomberg.
Whop was founded in 2021. It has an office in New York and is growing its engineering, product, sales and operations teams.
