Lithuanian unicorn Vinted raises €340M in secondary funding at €5Bln valuation

Lithuanian second-hand clothing company Vinted has raised €340M in a secondary share sale, reaching its valuation of €5Bln. The round was led by US investment firm TPG Tech Adjacencies, with participation from London-based VC Hedosophia, Edinburgh-based asset manager Baillie Gifford, New York-based VCs Invus Opportunities, FJ Labs, Manhattan Venture Partners and Moore Strategic Ventures. All of Vinted's existing institutional investors of Vinted, including EQT, Accel, Burda Principal Investments, Insight Partners, Lightspeed, Sofina, and Sprints, have remained in the company.

Founded in Vilnius in 2008 by Justas Janauskas and Milda Mitkute, Vinted developed a marketplace for buying and selling various used goods, including clothing and pet care products. The marketplace has over 80M registered members, and it operates in more than 20 markets across Europe and North America. The company employs over 2K people and has offices in Amsterdam, Berlin, Hamburg, Kaunas, Prague, and Paris. The CEO is Thomas Plantenga.

In 2022, Vinted launched Vinted Go, which focuses on shipping and delivering goods across Europe. It has over 40 carriers and over 200K pick-up points. The company has also developed a verification service to make it safer to trade designer and luxury fashion items.

The unicorn plans to expand its used goods line to include electronics, books, toys, and video games.