Preloved platform Vinted has extended its decade-long partnership with Mangopay as its payment service provider across Europe.
Mangopay will continue to provide the reselling platform with its wallet infrastructure, payment processing, and payout capabilities, working closely with Vinted’s own in-house payment service provider, Vinted Pay. Vinted uses Mangopay’s infrastructure to support payment flows between buyers and sellers across multiple markets. Both parties see the ongoing partnership as a strong foundation for continued mutual growth.
Resale growth
Lithuania-founded Vinted has experienced massive, sustained growth over the past decade as high inflation and increasing living costs have fuelled a resale boom. It recently reached an €8 billion equity valuation, with revenues of 1.1 billion, a 38% increase year-on-year. Modestas Tursa, VP for Payments at Vinted, says that working with Mangopay helped make that growth possible.
“We chose to build our marketplace model with Mangopay at a time when few providers truly understood multi-party payments. Their wallet-based infrastructure has given us the flexibility to manage complex money flows and support the evolution of our business model,” he said. “Today, the payments landscape is more competitive, but Mangopay continues to stay on top and to offer the platform-focused capabilities. We have ambitious plans ahead, and we value working with a partner that understands both our history and our future.”
Mark Fleming, Mangopay’s Chief Commercial Officer, added: “Together, we have demonstrated how a multi-party payments framework operates successfully and the value it creates for buyers, sellers, and the platform itself.”
Stay informed
Our editor carefully curates two newsletters a week filled with up-to-date news, analysis and research. Click here to subscribe to the FREE newsletter sent straight to your inbox. Why not follow us on LinkedIn to receive the latest updates on our research and analysis?
