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.

Furthermore, the company has 45 million users, who upload their own items of clothes or home goods to sell or buy those uploaded by others. Although users pay no fees for listing, Vinted takes a 'buyer protection' rate that is either between 3% and 8% of the cost of an item, or a direct cut (in the UK – between GBP 0.03 and GBP 0.08), depending on the value of the good.

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Keywords: funding, marketplace, ecommerce
Categories: Payments & Commerce | Ecommerce
Countries: World
This article is part of category

Payments & Commerce