Vinted, a Vilnius, Lithuania- and San Francisco, CA-based secondhand marketplace, raised $27m in Series B funding.
The round was led by Accel Partners with participation from Insight Venture Partners.
The company intends to use the capital to expand in the United States and continue product development. It launched in the United States in the summer of 2013 and will now focus scale up user growth, development capacity, and build the team in Lithuania to improve product features.
Founded in 2008 in Lithuania by CEO Justas Janauskas and Milda Mitkute, Vinted is a marketplace for women to buy, sell, and swap clothes, shoes, and accessories. The company, which has 110 employees, is currently available for iOS and Android in The United States, Germany, France, Austria, Poland, Czech Republic and Lithuania.
It operates three different brands:
– manodrabuziai.lt (Lithuania),
– kleiderkreisel.de (Germany), and
– votocvohoz.cz (Czech Republic).
FinSMEs
03/02/2014