Pre-loved peer-to-peer marketplace Vinted has closed a secondary share sale of €340mn, at a valuation of €5bn.
The transaction, led by asset manager TPG, will enable Vinted to develop and grow the second-hand market globally. It also diversifies the company’s investor base with new expertise and rewards its employees and early investors for their contributions to Vinted’s success.
Thomas Plantenga, CEO of Vinted, said: “We’re delighted to welcome new investors with the experience to support us through our next phase of growth, while continuing to benefit from the expertise of our long-term backers. TPG and our other new investors share our vision: to make second-hand the first choice, worldwide. We’re also delighted that this share sale rewards our employees for their dedication in making Vinted a success.
“We are incredibly proud to have built a product that our members love to use, and that has created a market for second-hand fashion. Vinted shows it’s possible to have a successful, profitable business that positively impacts people, communities, and the environment.”
In 2021, at the time of Vinted’s last fundraising round, the company had a pre-money valuation of €3.5bn. Since then, Vinted has increased its gross merchandise value by more than 3.5 times, and has become fully profitable. In 2023, the company delivered revenue growth of 61% and had a double-digit EBITDA margin.
Read more: What is driving the popularity of Vinted?
The recently published ChannelX Europe’s Marketplace 2024 report profiles the C2C platform. Founded in 2008 in Lithuania, Vinted has emerged as a leading online marketplace dedicated to the buying and selling of second-hand clothing and accessories.
The pre-loved app has expanded significantly since its inception and now operates in multiple countries across Europe. While the platform’s birthplace, Lithuania, remains a key market, its largest market is France, where the demand for second-hand fashion has surged in recent years.
Vinted has also successfully entered the German market, has a strong presence in Belgium and is making waves in Spain. More recently, it has expanded its operations into the UK, where it aims to capture the burgeoning market for sustainable fashion and vintage.
Strong performance
The increasing consumer demand for second-hand goods has contributed to Vinted’s impressive financial trajectory. In 2022, the platform reported that it facilitated over €1bn in transactions, showcasing its ability to connect buyers and sellers effectively. This strong performance underscores its position as a leader in the second-hand fashion market.
One of Vinted’s standout features is that it does not charge sellers any fees for listing or selling items. This attracts more users and encourages them to list their items, boosting the platform’s overall inventory.
The full Vinted profile can be downloaded as part of the new ChannelX Europe’s Marketplaces 2024 report. Introduced during the Autumn Festival on 09 October, this report takes a holistic look at the regions within the European marketplace market, assessing how consumers shop through marketplaces differently across Northern, Western, Eastern, Central and Southern Europe.
The report drills into the key 27 marketplaces, breaking them down into sector groups and analysing how they perform across a range of metrics.
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