Lightspeed leads €128m round for Vinted

The funding round values Vinted at €1bn, making it Lithuania's first technology unicorn.

The private equity and venture capital market in Estonia, Latvia and Lithuania has grown consistently in the last six years, from €385m in 2013 to an aggregate value of around €3bn in 2019, according to the local private equity body.

Recent investments in the region include the acquisition of advertising platform Baltic Classifieds Group, bought by Apax Partners from Media Investments & Holding, for a valuation of around €140-160m. More recently, Baltik Vairas was acquired by KJK Management via its €138m KJK Fund III vehicle. 

The round for Vinted saw participation from several venture capital houses, including existing investors Sprints Capital, Insight Venture Partners, Accel and Burda Principal Investments.

The company plans to use the fresh capital to further expand across Europe, scale up its team and finance additional acquisitions with the aim of pursuing an aggregation strategy in the region.

Previous funding
Accel Partners led a $6.5m series-A round for Vinted in January 2013.

Subsequently, Vinted raised a $27m series-B funding round led by Insight and Accel in February 2014.

Following that, the business raised €24m in a series-C round led by German publishing house Hubert Burda in December 2015.

Most recently, Sprints Capital led a €50m funding round in August 2018, acquiring a minority stake in the business and joining Vinted's management team.

Company
Founded in 2008 and headquartered in Vilnius, Vinted is an online marketplace for secondhand clothes and accessories. The company operates in 11 markets and has a particularly strong presence in France, with a claimed market share of 80% in adult and children's fashion resale in the country.

In 2018, Vinted tripled its revenue to €32.9m. Vinted has offices in Berlin, Warsaw and Prague, and employs 300 staff.

People
Vinted – Thomas Plantenga (CEO).

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• Topics
• Expansion
• CEE
• Technology
• Venture
• Lithuania