eBay is to acquire Depop from Etsy for a deal worth c.£1.2 billion in cash. The transaction, which has been unanimously approved by eBay’s and Etsy’s Board of Directors, is currently expected to close in the second quarter of 2026, subject to the satisfaction of certain closing conditions and receipt of required regulatory approvals.
Depop has over 7 million active buyers, nearly 90 per cent of which are under the age of 34 and the acqusition will help eBay accelerate its C2C strategy by deepening its reach with younger, fashion-forward consumers and expanding its presence in one of the most dynamic areas of resale.
Following the closing of the transaction, Depop is expected to retain its name, brand, platform, and complementary culture.
Peter Semple, Chief Executive Officer of Depop, added, “We’re thrilled to begin this next chapter with eBay, whose experience in the C2C fashion space and shared belief in people, opportunity, and a more sustainable future positions us to meaningfully accelerate our marketplace in the U.S. and beyond. This transaction is a testament to the significant growth we have delivered as we have evolved our product experience and strengthened our brand’s place in the world. We’re very grateful to Kruti and the Etsy team for their partnership in advancing Depop’s business and mission to make fashion circular.”
eBay has also announced a partnership with TrueLayer to introduce Pay by Bank at checkout for UK customers.
With Pay by Bank, eBay’s UK buyers can pay directly from their bank accounts, authorising the transaction through their own bank app in seconds. The experience is fast, secure, and frictionless, with no cards or manual entry of account details required.
Pay by Bank uses bank-grade technology to authenticate the payment. This means that buyers’ bank login information is not shared with or stored by eBay. TrueLayer securely connects the buyer’s bank to process the payment.
“Our partnership with eBay brings Pay by Bank into the everyday shopping journey of millions of UK customers,” said Francesco Simoneschi, CEO and Co-founder of TrueLayer. “By integrating directly into eBay’s checkout, we’re enabling instant, bank-authenticated payments at scale that allows merchants to benefit from a faster and more streamlined payment experience. This is another step towards a real-time payments ecosystem that aligns with modern consumer expectations.”
“We’re constantly evolving eBay’s checkout experience to expand choice and make paying on our platform safer, faster and more seamless,” said Avritti Khandurie Mittal, Vice President of Product for eBay Services. “Pay by Bank represents an important step in diversifying our payment mix with a secure, real-time way for buyers to pay directly from their bank accounts. Through our partnership with TrueLayer, we’re bringing this innovation to millions of UK customers while continuing to build a more modern, efficient payments experience.”
eBay Ventures has also made a strategic investment in TrueLayer. This milestone follows a year of strong momentum for Pay by Bank across Europe, as merchants increasingly prioritise fast, safe, and flexible payment options that align with evolving consumer payment preferences. For TrueLayer, it represents both a commercial and strategic leap forward – one that underscores how execution and innovation continue to set the company apart.
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