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Lithuania Vented He has Believer A new valuation of €5 billion (about $5.4 billion at current exchange rates), after the used fashion market closed a secondary share sale worth €340 million ($367 million).
The deal was led by the private equity giant TPGwith other new participants including Baillie Gifford, FJ Labs, Hedosophia, Invus Opportunities, Manhattan Venture Partners, and Moore Strategic Ventures. It’s unclear how much money existing investors cashed into Vinted, but the company says all existing institutional investors — including Accel, EQT, Insight Partners and Lightspeed Venture Partners — retained at least some stake.
This year has proven to be a busy year for secondary market transactions, especially in Europe, as startups seek to provide liquidity to their employees and venture capital firms. The IPO market is definitely tepid. In the past few months alone, we’ve seen neobanks Revolut and Monzo pursue secondary market routes, achieving high valuations on the back of strong user growth and profitability.
Meanwhile, in the US, fintech giant Stripe followed a similar path to launching liquidity, reaching a private valuation of $65 billion in February as it continues to delay its long-rumoured IPO. That number later jumped to $70 billion as Sequoia sought a larger share from existing investors.
Vinted CEO Thomas Plantinga (pictured above) noted that the sale “rewards our employees for their dedication to making Vinted a success.” The company was valued at €3.5 billion ($3.8 billion) upfront versus its previous Series F fundraising of €250 million in 2021. Since then, it has gone from strength to strength. Report history Growing revenues by 61% in 2023 compared to the previous year and reaching profitability for the first time.
At the same time, Vinted has expanded geographically and is also extending beyond its core fashion roots into the world of electronics – a growth trajectory that has prompted market powerhouse eBay to respond by removing seller fees in key European markets.
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