Lithuania’s second-hand marketplace, Vinted, is expanding internationally with new options and amenities, making Vinted Clothes a top choice for sustainable fashion.
Vinted, a second-hand marketplace startup has announced its last funding round, in which it secured €340 million from TPG. This funding brings Vinted’s valuation to €5bn, up from €3.5bn in 2021, Code thinks. Big names such as Hedosophia and Baillie Gifford, as well as new members of Moore Strategic Ventures, participated in the raise alongside previous investors EQT, Accel, and Insight Partners.
Vinted now wants to grow the business still further by entering more markets globally and introducing products other than second-hand clothing and accessories. Present in 22 nations, Vinted recently expanded to Finland, Greece, and Croatia. It persists in its expansion, with the company’s revenue increasing by 61 percent in the last fiscal year, while its GSV has more than tripled since the prior funding phase.
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Due to the high risks of counterfeit products, Vinted has opted to provide a verification service touching on designers and operating across ten countries. The company also started “Vinted Go”: logistics with locker solutions in France, Belgium, or the Netherlands to enhance the shipping of products for the clients.
Sustainable Shopping Trends Response:
Given that consumers become increasingly conscious about CO2 emissions and seek sustainable shopping solutions, Vinted has broadened its portfolio and added electronics to the list of items they can sell online. Vinted Chief Executive Thomas Plantenga reiterated the company’s mission to provide second-hand fashion as the first global choice. All of these approaches relate to increasing consumer awareness regarding new convenient and environmentally friendly shopping opportunities.
Positioned for Future Growth:
They have Morgan Stanley & Co. International plc as their financial advisor, which prepares them for future expansion. This latest funding round effectively establishes Vinted as a leading player in second-hand shopping in Europe which is tailored to consumers of the 21st century while being environmentally-friendly.
