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Second hand marketplace platform Vinted secures €250 million investment

Tom Shearsmith
12 May 2021

Second hand marketplace app Vinted has secured €250 million (£214.7 million) of new investment in a series F funding round.

With a pre-money valuation of €3.5 billion (£3 billion), the investment was led by EQT Growth with participation from previous investors in Vinted.

Founded in 2008, Vinted operates in over 10 markets, and has become the largest online customer-to-customers marketplace in second-hand fashion across Europe.

Since Thomas Plantenga took over as CEO in 2016, he has transformed its business model and developed a proven market development playbook, as evidenced by the Company's strong growth and traction in recent years.

Vinted's underlying market is supported by several secular tailwinds, including growing concerns around sustainability and climate change, as well as an increased focus on the circular economy, with consumers eager to make more responsible and less wasteful fashion choices.

EQT Growth will aim to support Vinted's accelerated growth and continued pursuit of commercial excellence by investing in the Company's platform and technology, helping it cement its position across its core markets and enabling further expansion into other global markets.

Thomas Plantenga, CEO of Vinted, said, "We are contributing to a seismic shift in the second-hand fashion market, enabling more sustainable, socially-responsible shopping habits. Our platform offers a great, easy-to-use product and helps people experience the benefits of second-hand trade.

"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."

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