Lithuanian second-hand fashion marketplace Vinted has secured €340 million in a secondary share sale, boosting its valuation to €5 billion. The investment round was led by TPG Tech Adjacencies (TTAD), with participation from Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures. This brings Vinted one step closer to its mission of making second-hand fashion the first choice for consumers worldwide.
Founded in 2008 by Milda Mitkutė and Justas Janauskas, Vinted is Europe’s largest online platform for second-hand fashion, operating in over 20 markets across Europe and North America. The company aims to extend the lifecycle of clothing, reducing waste and promoting sustainable fashion. The fashion marketplace also recently expanded its offerings to include a shipping network called Vinted Go, which partners with over 40 carriers and 200,000 pick-up points to improve delivery efficiency.
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Scaling with Strong Backing
CEO Thomas Plantenga emphasized the company’s growth and its focus on sustainability, noting that this latest investment will further fuel the company’s global expansion. With over 2,000 employees and a strong customer base, the firm continues to innovate, having recently launched new product categories and expanded its presence in countries like Finland, Greece, and Croatia.
Investor Confidence
Andy Doyle, Partner at TPG, highlighted the growing consumer demand for sustainable fashion, praising Vinted’s customer-focused approach and advanced logistics solutions. The new capital will allow the scale-up to continue expanding while rewarding its employees for their contributions to the company’s success.
