Vinted funding news – Lithuanian Unicorn Vinted Secures €340 Million in Funding

Investor of the round

TPG Tech Adjacencies (TTAD), TPG’s strategy dedicated to providing flexible capital solutions to the technology industry, is funding the investment. Other major investment funds including Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures also participated. All of Vinted’s existing institutional investors remain invested in the company.

In 2021, at the time of it’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.

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In 2023, the company delivered revenue growth of 61% and had a double-digit EBITDA margin.* It has become the European leader in its field, encouraging people to adopt new consumption habits and today, more than a third (37%) of it members say that second-hand makes up at least half of their wardrobe.

Unlocking the Advantages of Fundraising Success

This growth has been enabled by it’s rigorous focus on ensuring its members get excellent value at the lowest possible cost. In the last year alone, it's marketplace expanded in existing markets, and launched into new markets including Finland, Greece and Croatia. The company also launched a new verification service to help members trade designer and luxury fashion items more safely. This feature is now live in 10 countries.

It has begun the roll-out of a new category for electronics. And in parallel, the company has successfully expanded its shipping business in the Netherlands, Belgium, and France. It’s payments business has acquired an EMI license and is working on solutions to improve how members transact on Vinted. 

Thomas Plantenga, CEO of Vinted, said: “We’re delighted to welcome new investors with the experience to support us through our next phase of growth, while continuing to benefit from the expertise of our long-term backers. TPG and our other new investors share our vision: to make second-hand the first choice, worldwide. We’re also delighted that this share sale rewards our employees for their dedication in making Vinted a success. We are incredibly proud to have built a product that our members love to use, and that has created a market for second-hand fashion. Vinted shows it’s possible to have a successful, profitable business that positively impacts people, communities, and the environment.”

Andy Doyle, Partner at TPG, said: “We’ve seen that consumers are increasingly choosing second-hand as a core part of their wardrobe, as sustainability and flexibility become top of mind for many people. Vinted’s customer focus, leading product experience, and sophisticated approach to logistics have made this market accessible to an even broader population. We are excited to partner with Thomas and his team of world-class operators and to count Vinted among our growing portfolio of leading European tech businesses.”

About Vinted

Vinted Marketplace is the largest online international C2C marketplace in Europe dedicated to second-hand fashion, with a growing member base of millions registered members spanning 20+ markets in Europe and North America.