Home and clothing marketplace Vinted raises EUR 250 mln Wednesday 12 May 2021 14:25 CET | News
Vinted has closed an all-equity round of EUR 250 million funding that values the company pre-money at EUR 3.5 billion.
According to TechCrunch, the funding is led by EQT Growth, with Accel, Burda Principal Investments, Insight Partners, Lightspeed Venture Partners, and Sprints Capital also participating.
Vinted is a Lithuania-based online marketplace and community that allows its users to sell, buy, and swap secondhand clothing items and accessories. The initiative comes as the circular economy has been a very compelling concept in 2020, as people have been spending more time at home and looking to declutter those spaces, or out of work and looking to make extra money or save some money. Besides, it allows consumers to do their small part in engaging with their communities in a different way, TechCrunch stated.
Vinted raises $303M for its 2nd-hand clothes marketplace, used by 45M and now valued at $4.5B
The circular economy where consumers themselves are both the suppliers and buyers of goods and services has come into its own in the last year of lockdown living as a popular and trusted way to buy and sell things. Now one of the larger players in that system the clothes and home goods marketplace Vinted is circling in on some very big money of its own. The European startup is today announcing that it has closed an all-equity round of €250 million ($303 million at today’s rates), funding that values the company pre-money at €3.5 billion ($4.2 billion, or $4.5 billion post-money).
Vilnius-based consumer-to-consumer second-hand fashion platform Vinted raises €250 million, charity shops everywhere tremble tech.eu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tech.eu Daily Mail and Mail on Sunday newspapers.
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STOCKHOLM (Reuters) -Swedish real estate web portal Hemnet, backed by U.S. private equity firm General Atlantic, plans to list its shares on Nasdaq Stockholm, it said on Thursday.
Founded in 1998, Hemnet was acquired by General Atlantic and Sprints Capital in 2016 for about 2 billion crowns ($232 million) and the company is now Sweden’s largest housing portal.
General Atlantic owns a 60% stake in Hemnet and Sprints holds 17%.
“We’re not looking for new money, so it’s the current shareholders who are selling in this IPO,” CEO Cecilia Beck-Friis told Reuters.
She declined to give Hemnet’s current valuation, but according to a source familiar with the matter the company is currently valued at about 10 billion Swedish crowns ($1.16 billion).
PPRO Announces Strategic Investment From JPMorgan Chase & Co , Bringing Total Round to $270 Million businesswireindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesswireindia.com Daily Mail and Mail on Sunday newspapers.