Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Vinted has closed a secondary share sale of €340m (£283.5m) at a valuation of €5bn (£4.17bn) and is now looking to expand beyond clothes.
In recent weeks, Vinted has begun the roll-out of a new category for electronics.
The transaction, led by TPG, a leading global alternative asset manager, “validates Vinted’s opportunity and progress in developing and growing the second-hand market globally”.
Other major investment funds including Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures also participated.
All of Vinted’s existing institutional investors remain invested in the company.
Furthermore, the company has successfully expanded its shipping business in the Netherlands, Belgium, and France.
Vinted’s payments business has acquired an EMI licence and is working on solutions to improve how members transact on Vinted.
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.”
Andy Doyle, partner at TPG, added: “We’ve seen that consumers are increasingly choosing second-hand as a core part of their wardrobe, as sustainability and flexibility become top of mind for many people.
“Vinted’s customer focus, leading product experience, and sophisticated approach to logistics have made this market accessible to an even broader population. We are excited to partner with Thomas and his team of world-class operators and to count Vinted among our growing portfolio of leading European tech businesses.”
