Global segment ranking · Commerce & consumer › E-commerce
The world’s most valuable online marketplace startups
Companies that run multi-category online marketplaces for new goods: horizontal e-commerce platforms, cross-border and social commerce, reseller and live-shopping marketplaces, horizontal classifieds, and B2B wholesale marketplaces that supply independent shops. Ranked worldwide by AI-estimated valuation, with listed marketplace companies shown in grey at their market value for reference. The market sets the value; AI models estimate it.
Key metrics for this segment: key milestone. Figures as published by each company or the press, dated, not recalculated. The AIs weigh them alongside funding history and comparables.
Not in this segment. Listed, so not ranked: Alibaba, PDD (Pinduoduo, Temu), MercadoLibre, Sea (Shopee), eBay, JD.com, Coupang, Allegro, Ozon, Hepsiburada and Jumia (shown in grey), and Meesho, Amazon, Etsy, Kaspi, Rakuten, IndiaMART, momo, Kogan, Snapdeal and Yunji. Bought or created by a group: Lazada and Daraz (Alibaba), Tokopedia (GoTo, TikTok), Takealot and eMAG (Naspers), Cdiscount, bol, OTTO, Kaufland, 11st, Gmarket, JioMart, TikTok Shop, Sendo (FPT), Wish (Qoo10), Linio (Falabella), Konga, Avito, OLX, Leboncoin. Closed: Zilingo, Nice Tuan, Catch. In other segments: resale and authenticated sneakers (Vinted, StockX, Dewu, OfferUp) under Second-hand; refurbished goods under Refurbished; Shein, Veepee, Zalando and ManoMano under Fashion and Home; grocery group buying (Xingsheng Youxuan) under Quick commerce; Xiaohongshu under Social networks; Salla, Zid and Weidian under Store builders. A company appears in one segment only. Method
The segment at a glance
18companies ranked
5companies on the radar
11countries in the ranking
21listed benchmarks
Sources: Company announcements, Bloomberg, Financial Times, Reuters, The Information, TechCrunch, Semafor, The Economic Times, Moneycontrol, Entrackr, KrASIA, DealStreetAsia, TechCabal, Wamda, Sky News, 36Kr, AVCJ, and market data for listed companies. Intention counters will be shown above a threshold of amount and number of Backers.
Rankings by region
Filter the ranking and the Radar. Ranks stay worldwide. Regional pages: Asia · Europe · Latin America & Caribbean · Middle East & North Africa · North America · Sub-Saharan Africa.Global ranking · General marketplaces
Snapshot14 Oct 2026A snapshot taken on 14 Oct 2026
This ranking shows the startups as they stood on 14 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 7 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
This ranking shows the startups as they stood on 14 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 7 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
World · 18 ranked companies
| # | Company | Last round · Key metrics | Estimated valuation (AI) · range | Pool of InterestsInterest: a free, non-binding declaration on a company, or on a sector within an area, made during the free phase of a pool. Pool: all the Interests declared on the same target. This column shows the number of Backers and the combined amount of their tickets, to validated members only. Terms for Backers → | BackBacking a startup on Uback (pronounced “you back”) can be done in two ways: Interest · free: a non-binding declaration that signals your demand for a company or a sector. You can move or withdraw it at any time, with up to 5 at once. Intention · coming soon: a paid, confirmed declaration, still non-binding. Once its pool reaches critical mass, it is presented to a company by a partner desk. Neither is an order nor a commitment to invest. Terms for Backers → |
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| — | Alibaba GroupListed · NYSE · BABA / HKEX · 9988 | USD 280bnMarket cap · Oct 2026Listed company · not ranked | |||
| — | PDD HoldingsListed · Nasdaq · PDD | USD 120bnMarket cap · Oct 2026Listed company · not ranked | |||
| — | MercadoLibreListed · Nasdaq · MELI | USD 95bnMarket cap · Oct 2026Listed company · not ranked | |||
| — | Sea LimitedListed · NYSE · SE | USD 59bnMarket cap · Oct 2026Listed company · not ranked | |||
| — | eBayListed · Nasdaq · EBAY | USD 52bnMarket cap · Oct 2026Listed company · not ranked | |||
| — | JD.comListed · Nasdaq · JD / HKEX · 9618 | USD 36bnMarket cap · Oct 2026Listed company · not ranked | |||
| — | CoupangListed · NYSE · CPNG | USD 27bnMarket cap · Oct 2026Listed company · not ranked | |||
| 1 | WhatnotLive-shopping marketplace where independent sellers run video auctions and sales of collectibles, trading cards, fashion and other goods for buyers across North America and Europe. | Series G · USD 545M · Aug 2026Live GMV above USD 8bn in 2025; 1 billion total orders passed in June 2026 · Jun 2026 | Last known equity round: Series G · USD 545M · Aug 2026 (ICONIQ, Lightspeed Venture Partners, Avra, Kleiner Perkins) Published valuation: USD 20bn (reported) (Aug 2026)Method |
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| 2 | Flipkart#1 in IndiaOperates an online marketplace in India where third-party sellers offer electronics, fashion, home goods and groceries to consumers, with its own logistics and payments services. · Controlled by Walmart | Strategic round · USD 950M · May 2024Pre-IPO raise of USD 2-2.5bn explored with banks in Apr 2026; IPO targeted within 12-18 months · Apr 2026 | Last known equity round: Strategic round · USD 950M · May 2024 (Walmart, Google); USD 600M from Walmart and USD 350M from GoogleMethod | Be the first | Back |
| — | AllegroListed · WSE · ALE | USD 14bnMarket cap · Oct 2026Listed company · not ranked | |||
| — | OzonListed · MOEX · OZON | USD 8.9bnMarket cap · Oct 2026Listed company · not ranked | |||
| 3 | Trendyol#1 in TürkiyeOnline marketplace selling fashion, electronics, groceries and household goods from third-party sellers to consumers in Turkey, Germany, the Gulf states and other markets, backed by its own logistics network. · Controlled by Alibaba Group | Growth round · USD 1.5bn · Aug 2021About 1.5M customers in Germany and 2M in Azerbaijan (2024) · Oct 2024 | Last known equity round: Growth round · USD 1.5bn · Aug 2021 (General Atlantic, SoftBank Vision Fund 2, ADQ)Method | Be the first | Back |
| 4 | FaireOnline wholesale marketplace connecting independent retailers with brands across many product categories, offering retailers deferred payment terms, free returns on opening orders and curated discovery tools. | Series G (incl. extension) · USD 816M · May 2022450,000+ retailers and 70,000+ brands on the marketplace (May 2022) · May 2022 | Last known equity round: Series G (incl. extension) · USD 816M · May 2022 (Durable Capital Partners, D1 Capital Partners, Dragoneer); including the 2022 extension Published valuation: USD 5.2bn (tender offer, reported) (Nov 2025)Method |
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| 5 | NoonOperates an e-commerce marketplace in the UAE, Saudi Arabia and Egypt selling electronics, fashion, beauty and home goods, alongside grocery and food-delivery services. | Growth round · USD 500M · Dec 2025USD 2.7bn raised in total; IPO in UAE and Saudi Arabia targeted within two years · Dec 2025 | Last known equity round: Growth round · USD 500M · Dec 2025 (Public Investment Fund, Mohamed Alabbar)Method | Be the first | Back |
| 6 | UzumDigital ecosystem in Uzbekistan combining an online marketplace for local sellers with a digital bank, buy-now-pay-later consumer lending and express delivery services for consumers. | Growth round · USD 81.5M · Mar 2026Group revenue of USD 691M and net income of USD 176M in 2025; marketplace GMV USD 500M · 2025 | Last known equity round: Growth round · USD 81.5M · Mar 2026 (Omani sovereign funds, Tencent, VR Capital); USD 81.5M equity; convertible financing not counted Published valuation: USD 2.3bn (reported) (Mar 2026)Method |
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| 7 | Udaan#15 in IndiaRuns a B2B e-commerce platform that lets small retailers, kirana stores and resellers across India buy FMCG, electronics, apparel and staples from brands and wholesalers, with credit and delivery. | Series G · USD 114M · Jun 2025USD 160M structured financing in Jul 2026; IPO targeted within 9-18 months · Jul 2026 | Last known equity round: Series G · USD 114M · Jun 2025 (M&G, Lightspeed Venture Partners) Published valuation: USD 1.8bn (reported) (Jun 2025)Method |
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| 8 | Ankorstore#23 in FranceWholesale marketplace connecting independent European retailers with brands, offering low minimum orders, deferred payment terms and logistics services across food, gifts, home, beauty and fashion products. | Series C · USD 284M · Jan 2022About 200,000 retailers and 15,000 brands across Europe (Jan 2022) · Jan 2022 | Last known equity round: Series C · USD 284M · Jan 2022 (Bond, Tiger Global, Eurazeo, Coatue); EUR 250MMethod | Be the first | Back |
| — | HepsiburadaListed · Nasdaq · HEPS | USD 1bnMarket cap · Oct 2026Listed company · not ranked | |||
| 9 | Jumbotail#38 in IndiaRuns a B2B marketplace and wholesale network in India that supplies kirana stores and small retailers with groceries, FMCG and general merchandise, with logistics, credit and retail software. | Series D · USD 120M · Jun 2025Estimated operating revenue of ~INR 1,200 crore for FY24 · FY2024 | Last known equity round: Series D · USD 120M · Jun 2025 (SC Ventures, Artal Asia) Published valuation: about USD 1bn (reported) (Jun 2025)Method |
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| — | JumiaListed · NYSE · JMIA | USD 780MMarket cap · Oct 2026Listed company · not ranked | |||
| 10 | FlipSocial shopping app where users post video reviews of products and buy beauty, home, fashion and other goods directly in the app, with brands paying for visibility. | Series C · USD 144M · Apr 2024About 5 million app downloads (Apr 2024) · Apr 2024 | Last known equity round: Series C · USD 144M · Apr 2024 (Streamlined Ventures, AppLovin, WestCap, Mubadala)Method | Be the first | Back |
| 11 | AikucunReseller commerce platform that lets brands clear surplus inventory through flash sales distributed by a network of individual resellers who share deals on WeChat and social media. | Series B+ · USD 110M · Oct 2018Key metrics not disclosed | Last known equity round: Series B+ · USD 110M · Oct 2018 (Sinovation Ventures, GGV Capital)Method | Not open to BackersCompanies based in mainland China are ranked like any other startup, but Uback does not open pools on them: capital controls and offshore (VIE) structures make minority deals impractical for our Backers. You can still declare an interest in this segment → |
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| 12 | ElasticRunOperates a B2B commerce platform in India that connects FMCG brands with small kirana stores in rural and semi-urban areas, handling ordering, distribution and credit. | Series E · USD 330M · Feb 2022Key metrics not disclosed | Last known equity round: Series E · USD 330M · Feb 2022 (SoftBank Vision Fund 2, Goldman Sachs, Prosus)Method | Be the first | Back |
| 13 | TikiRuns an e-commerce marketplace in Vietnam selling books, electronics, household goods and groceries from its own stock and third-party sellers, with in-house fast delivery. | Series E · USD 258M · Nov 2021Key metrics not disclosed | Last known equity round: Series E · USD 258M · Nov 2021 (AIA Group)Method | Be the first | Back |
| 14 | YijiupiB2B e-commerce platform supplying beverages, liquor and fast-moving consumer goods to small shops, bars and restaurants, with its own warehousing and delivery network across Chinese cities. | Series D (tranche) · USD 80M · Aug 2019Key metrics not disclosed | Last known equity round: Series D (tranche) · USD 80M · Aug 2019 (Tencent)Method | Not open to BackersCompanies based in mainland China are ranked like any other startup, but Uback does not open pools on them: capital controls and offshore (VIE) structures make minority deals impractical for our Backers. You can still declare an interest in this segment → |
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| 15 | MaxAB-WasokoRuns a B2B e-commerce and distribution platform for informal retailers in Egypt, Morocco, Kenya and other African markets, supplying FMCG goods with delivery and embedded finance. | Series B (Wasoko) · USD 125M · Mar 2022Merger of Wasoko and MaxAB completed; acquired EFG's Fatura (2025) · 2025 | Last known equity round: Series B (Wasoko) · USD 125M · Mar 2022 (Tiger Global, Avenir Growth)Method | Be the first | Back |
| 16 | JijiOperates horizontal online classifieds sites in Nigeria, Ghana, Kenya and other African countries where individuals and businesses list goods, vehicles, property and services for sale. | Series C · USD 21M · Dec 2019Key metrics not disclosed | Last known equity round: Series C · USD 21M · Dec 2019 (Knuru Capital, Digital Spring Ventures, Hendale Capital)Method | Be the first | Back |
| 17 | ElenasSocial commerce platform in Colombia and Mexico where mainly women resell beauty, fashion and household products to their contacts through messaging apps and social networks, earning commissions. | Series B · USD 20M · Oct 2022More than 100,000 women sellers and 2M+ orders in the prior year (Oct 2022) · Oct 2022 | Last known equity round: Series B · USD 20M · Oct 2022 (DILA Capital, FJ Labs, Endeavor Catalyst)Method | Be the first | Back |
| 18 | TaagerOperates a reseller commerce platform in Egypt, Saudi Arabia, the UAE and Morocco where individuals sell products online without stock, while the platform sources, stores and delivers goods. | Pre-Series B · USD 6.8M · Feb 2025Key metrics not disclosed | Last known equity round: Pre-Series B · USD 6.8M · Feb 2025Method | Be the first | Back |
Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale. · Terms
Corporate investor? Back the startups of your own segment
No ranked company in this region yet: see the Radar.
Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main activity in this segment (online marketplaces). Country shown is the country of main operations. Request a correction
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How to read this ranking
Rank
Companies are ranked by AI-estimated valuation, highest first. The market sets the value; AI models estimate it.
Estimate
An AI-estimated valuation, its uncertainty range and its order of magnitude. Indicative, and imperfect by nature.
- Hundreds of k$
- Millions $
- Tens of M$
- Hundreds of M$
- Unicorn
- Decacorn
- Hectocorn
Challengers
A registered company raising funds that is not in the ranking will be able, for a fee, to appear in a separate list labelled “Challengers”, for a set period, with a memo available to verified Backers. The listing has no effect on the ranking. Not open yet.
Sponsored space · no Challenger listed yet
Radar · known eligible companies, not ranked
Sorted by date of last round, with no judgement and no AI call.
- SILQ · Saudi Arabia · Middle East & North AfricaApr 2025 · USD 110M; equity and debt split not disclosedBack
- DealShare · India · AsiaJan 2022 · USD 165M; activity sharply reduced in 2026, buyer soughtBack
- Facily · Brazil · Latin America & CaribbeanNov 2021 · USD 250M; activity since 2022 not confirmedBack
- OnBuy · United Kingdom · EuropeJul 2021; GBP 35M mixing equity and debt, split not disclosedBack
- Fordeal · China · AsiaApr 2019; tens of millions of dollars, exact amount not disclosedNot open to BackersCompanies based in mainland China are ranked like any other startup, but Uback does not open pools on them: capital controls and offshore (VIE) structures make minority deals impractical for our Backers.
You can still declare an interest in this segment →
No company on the radar in this region yet.
Listed benchmarks
Not ranked: no intention is possible on a listed company.
- Alibaba Group · ChinaNYSE · BABA / HKEX · 9988 · USD 280bn (Oct 2026)
- PDD Holdings · ChinaNasdaq · PDD · USD 120bn (Oct 2026)
- MercadoLibre · ArgentinaNasdaq · MELI · USD 95bn (Oct 2026)
- Sea Limited · SingaporeNYSE · SE · USD 59bn (Oct 2026)
- eBay · United StatesNasdaq · EBAY · USD 52bn (Oct 2026)
- JD.com · ChinaNasdaq · JD / HKEX · 9618 · USD 36bn (Oct 2026)
- Coupang · South KoreaNYSE · CPNG · USD 27bn (Oct 2026)
- Allegro · PolandWSE · ALE · USD 14bn (Oct 2026)
- Ozon · RussiaMOEX · OZON · USD 8.9bn (Oct 2026)
- Hepsiburada · TurkeyNasdaq · HEPS · USD 1bn (Oct 2026)
- Jumia · NigeriaNYSE · JMIA · USD 780M (Oct 2026)
- Meesho · IndiaNSE · MEESHO
- Amazon · United StatesNasdaq · AMZN
- Etsy · United StatesNasdaq · ETSY
- Kaspi.kz · KazakhstanNasdaq · KSPI
- Rakuten Group · JapanTSE · 4755
- IndiaMART · IndiaNSE · INDIAMART
- momo.com · TaiwanTWSE · 8454
- Kogan.com · AustraliaASX · KGN
- AceVector (Snapdeal) · IndiaNSE · ACEVECTOR
- Yunji · ChinaNasdaq · YJ
Sources and method for this segment
Calendar. Global segment rankings are published twice a year. Next edition: January 7, 2027.
Eligibility. At least $1M raised in equity, non-listed company, main activity in this segment (online marketplaces). A company appears in one segment only.
Sources. Company announcements, Bloomberg, Financial Times, Reuters, The Information, TechCrunch, Semafor, The Economic Times, Moneycontrol, Entrackr, KrASIA, DealStreetAsia, TechCabal, Wamda, Sky News, 36Kr, AVCJ, and market data for listed companies.