The classified listings platform was launched just over six months ago but is hoping its mobile-focused service can topple more established players such as eBay and Craigslist.

E-commerce group Naspers made a $100m series A investment in US-based mobile commerce platform developer Letgo yesterday, taking a stake of undisclosed size.

Launched in February 2015, Letgo runs a marketplace where goods can be sold locally. The startup, which is competing with the more established eBay and Craigslist, is built for mobile and features large photos, a specialised chat system and hyperlocal search options.

The app has already been downloaded two million times and has been responsible for more…

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