27.4 C
Helsinki
Monday, June 27, 2022

Lithuania’s second-hand clothes marketplace Vinted raises €250 million from EQT, others

Vilnius-headquartered Vinted has raised 250 million euros Series F round — valuing the firm at almost 4 billion euros — for growing to new markets and expanding in over 10 markets it operates already.

- Advertisement -

The 2008-founded Vinted has become the largest online C2C marketplace in second-hand fashion across Europe.

Since Thomas Plantenga took over as CEO in 2016, Vinted has transformed its business model and developed a proven market development playbook, as evidenced by the company’s strong growth and traction in recent years, EQT said.

These unique characteristics are supported by best-in-class unit economics and an enduring financial profile across its key markets. This virtuous flywheel effect is enabled by more than 45 million members globally

“Vinted’s underlying market is supported by several secular tailwinds, including growing concerns around sustainability and climate change, as well as an increased focus on the circular economy, with consumers eager to make more responsible and less wasteful fashion choices,” EQT said.

“We are contributing to a seismic shift in the second-hand fashion market, enabling more sustainable, socially responsible shopping habits.”

Thomas Plantenga, CEO of Vinted

“We want to replicate the success we’ve built in our existing European markets in new geographies and will continue investing to improve not only our product, but also to ensure we continue having a positive impact,” Plantega said in a statement.

- Advertisement -
spot_img
Jan Ameri
Jan Ameri
Entrepreneur-by-heart – and by actions since 1998. Being an expert in spotting new opportunities and creating new concepts, Jan has been a partner or co-founder in seven different companies in various industries. In the early 2000’s he was pioneering some of the very first WAP, SMS, and interactive TV based wireless games and fantasy sports games in the Nordic countries. Jan loves to watch Shark Tank and The Profit in his free time. And he is an FC Barcelona fan.

Related Articles

spot_img

Stay Connected

20,216FansLike
2,154FollowersFollow
23,353FollowersFollow
- Advertisement -

Latest Articles

X