Vinted raises €250 million in new funding round
According to reports, Vinted have raised €250 million in a new funding round led by EQT Growth with participation from Vinted’s previous investors, Accel, Burda Principal Investments, Insight Partners, Lightspeed Venture Partners, and Sprints Capital. The new investment brings the company’s pre-money valuation to €3.5 billion.
“We are contributing to a seismic shift in the second-hand fashion market, enabling more sustainable, socially-responsible shopping habits. Our platform offers a great, easy-to-use product and helps people experience the benefits of second-hand trade. We want to replicate the success we’ve built in our existing European markets in new geographies and will continue investing not only to improve our product, but also to ensure we continue to have a positive impact.”
– Thomas Plantenga, CEO, Vinted
Vinted want to use the newly raised funding to help push the circular economy and continue progressing with their mission to make used clothing the first choice for consumers of fashion around the world. Vinted remains committed to expanding into new markets and ensuring that they are creating the best and safest experiences through their products, tools and features. Vinted will also continue to expand its team and Berlin-based office.
“Vinted is transforming the second-hand fashion market across Europe through their customer-centric approach and extraordinary execution. Vinted is the perfect example of EQT Growth’s strategy of backing fast-growing European tech champions that tap into several macro trends, such as the increasing consumer demand for sustainability and continued penetration of online channels within fashion. We’re immensely proud and excited to be supporting Thomas and the Vinted team and we cannot wait to work together to further unlock the market for circular fashion.”
– Carolina Brochado, EQT Growth Partner