Vinted, a Vilnius, Lithuania-based second-hand C2C marketplace focused on fashion, closed a secondary share sale of €340M at a valuation of €5 Billion.
The transaction, led by TPG (NASDAQ: TPG), validated Vinted’s opportunity and progress in developing and growing the second-hand market globally. It also diversified its investor base with new expertise and rewarded its employees and early investors for their contributions to Vinted’s success. Other investment funds including Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures also participated.
Led by CEO Thomas Plantenga, Vinted is an international online C2C marketplace dedicated to second-hand fashion and more. The platform enables people to sell and buy second-hand clothes and lifestyle items from each other.
The company has offices in Lithuania, Germany and the Netherlands, and over 2,000 employees.
In 2021, at the time of Vinted’s last fundraising round, the company had a pre-money valuation of €3.5 billion. Since then, Vinted has increased its gross merchandise value (GMV) by more than 3.5x and has become fully profitable. In 2023, the company delivered revenue growth of 61% and had a double-digit EBITDA margin.
Backers also include Accel, EQT Growth, Insight Partners, Lightspeed Venture Partners and Sprints.
FinSMEs
24/10/2024