Lithuania’s second-hand clothes marketplace Vinted raises €250 million from EQT, others
The 2008-founded Vinted has become the largest online C2C marketplace in second-hand fashion across Europe.
Since Thomas Plantenga took over as CEO in
2016, Vinted has transformed its business model and developed a proven market
development playbook, as evidenced by the company’s strong growth and traction
in recent years, EQT said.
These unique characteristics are supported by
best-in-class unit economics and an enduring financial profile across its key
markets. This virtuous flywheel effect is enabled by more than 45 million
members globally
“Vinted’s underlying market is supported by several secular tailwinds, including growing concerns around sustainability and climate change, as well as an increased focus on the circular economy, with consumers eager to make more responsible and less wasteful fashion choices
Date Time
“If you choose technical engineering, then you also have to take responsibility”
For someone who didn’t actually know what he wanted when he finished his degree, Thomas Plantenga has done well for himself, and that is an understatement. This alumnus of the Department of Biomedical Engineering is now into his fourth year as CEO of Vinted, Europe’s largest online marketplace trading in second-hand clothing. Aimed at consumers, this platform was worth more than a billion euros at the end of 2019. But money is not his primary motivation. Sustainability and keeping our world habitable come first for Plantenga, and he calls on students to take on their future role of stewardship.
Second-hand clothing boom values Vinted app at £3bn
Lithuanian app s value more than trebles in less than two years following new funding round and plans to expand further in the US
12 May 2021 • 1:13pm
An online marketplace for buying and selling second hand clothing has been valued at £3bn in a fresh funding round as investors predict a boom in demand for vintage goods.
Vinted, which is headquartered in Lithuania, hit the valuation as part of a £214m funding round led by Sweden s EQT Growth fund. Other investors include UiPath backer Accel and Burda Principal Investments.
The high valuation is the latest indication of investors growing interest in e-commerce businesses during the pandemic, particularly companies that help people to de-clutter and sell second hand items.