🛍️ Vinted’s Big Funding Round
Vinted, the Lithuanian second-hand marketplace, secured €340M in a secondary investment. This deal, led by TPG Tech Adjacencies, brings Vinted’s valuation up to €5B. Other investors include Hedosophia, Baillie Gifford, and Moore Strategic Ventures. CEO Thomas Plantenga expressed enthusiasm, highlighting the support of both new and long-term backers in helping Vinted reach its next growth phase. He stated, “We’re delighted to welcome new investors with the experience to support us through our next phase of growth.”
🌱 Vinted's Mission and Expansion
Founded in 2008 by Milda Mitkutė and Justas Janauskas, Vinted aims to make second-hand the first choice for consumers. The company has expanded to over 20 markets in Europe and North America, boasting millions of members. Recently, Vinted introduced new categories like electronics, adding products like audio devices and e-readers. CEO Plantenga envisions a future where second-hand items become “the first choice worldwide, for any product imaginable.”
📦 Focus on Logistics and Sustainability
Vinted’s growth strategy includes a strong focus on logistics and sustainability. Its new brand, Vinted Go, has partnered with over 40 carriers and operates more than 200,000 pick-up points, improving the efficiency of parcel deliveries. The company’s aim is to reduce the environmental impact of shipping while enhancing the customer experience. In 2023, Vinted’s revenue grew by 61%, and it achieved a double-digit EBITDA margin.
📈 Valuation Surge and Future Plans
Vinted’s latest funding round follows a strong financial track record. In 2021, Vinted was valued at €3.5B, but it has since increased its gross merchandise value threefold and reached profitability. The €340M investment is a sign of investor confidence in Vinted’s potential to grow even further. Andy Doyle, Partner at TPG, remarked, “Consumers are increasingly choosing second-hand as a core part of their wardrobe.” Vinted's goal is to grow into a global leader in the circular economy, competing with large platforms like Amazon.
Will Vinted reshape second-hand shopping globally?
