HL advises Korelya on its $840m investment in Wallapop

Hogan Lovells has advised Korelya Capital on the signing of an investment agreement worth $840 million in Wallapop

Korelya Capital is an investment fund co-founded by Fleur Pellerin and Antoine Dresch and backed by the South Korean group Naver.

Founded in 2014, Wallapop is a Spanish company that offers a platform dedicated to buying and selling second-hand products between users over the Internet. This transaction will allow Wallapop to consolidate its position in Spain and expand into other markets, such as Italy.

A cross-border team made up of lawyers from the Madrid and Paris offices has advised Korelya Capital on this transaction, which has been led by Graciela Llaneza, from Hogan Lovells Madrid, and Xavier Doumen and Stéphane Huten, from our Paris office.

In Madrid, the advisory team consisted of Corporate M&A partner Graciela Llaneza (pictured left) and associate Mariana Blanco, Data Protection and Cybersecurity partner Gonzalo F. Gállego (pictured top right) and associate Juan Ramón Robles, Regulatory counsel David Antón (pictured middle right) and associate Álvaro Abad and Tax partner Javier Gazulla (pictured bottom right).

As announced by Iberian Lawyer on March 1, Wallapop conducted a Series G financing round worth €157 million to continue growing and expand its number of users.