Vinted, the C2C second-hand fashion platform, has completed a €250m (£214m) series F fundraising round at a pre-money valuation of €3.5bn (£3bn).
Founded in 2008, the Lithuanian-based marketplace now operates across 10 European markets, and has a global network of over 45 million members.
The investment round, led by EQT Growth, will be used to reinforce the group’s position as Europe’s largest online second-hand fashion marketplace.
Thomas Plantenga, CEO at Vinted, said: “We want to replicate the success we’ve built in our existing European markets in new geographies and will continue investing to improve not only our product, but also to ensure we continue having a positive impact.
“We are grateful to our existing and new investors, and believe today’s milestone is a vote of confidence in our commitment to the circular economy and our relentless effort to build a business that encourages more people to buy and sell second-hand.”
Following EQT’s involvement in the fundraising, Carolina Brochado, partner at the global investment group, will join Vinted’s board of directors.
She said that the investment in Vinted is an example of EQT’s “strategy of backing fast-growing European tech champions”.
She added: “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.”