Vinted, Europe’s leading C2C marketplace for second-hand clothes, shoes and accessories, has closed a €340 million share sale which values the company at €5 billion.
The new secondary investment means the Vilnius, Lithuania-headquartered company is 57% more valuable than at its previous funding round in 2021. In the three years since then, the company has become fully profitable and achieved revenue growth of 61%.
“Consumers are increasingly choosing second-hand as a core part of their wardrobe,” says Andy Doyle, Partner at global alternative asset manager TPG, which led the transaction. “Vinted’s customer focus, leading product experience, and sophisticated approach to logistics have made this market accessible to an even broader population.”
Vinted launched in the USA in 2014 and Canada in 2021 but its focus is mostly on European markets, which currently account for around one-third of the global $7 billion sustainable fashion market.
The company recently implemented a new verification feature to make trading designer and luxury fashion items safer and is also going head-to-head with heavyweights like eBay with the launch of an electronics category.
