Vinted scores €24m series-C from Accel, Insight et al.

Previous backers Accel Partners and Insight Venture Partners also participated in the round.

With the fresh capital, the startup aims to expand into new markets outside Europe and the US. It values its gross merchandise volume at €100m, while the total capital raised has reached $60m after the latest round.

The company has been collaborating with Facebook since 2014, with the social network placing in-app mobile ads on the platform.

Preivous funding
In February 2014, Insight and Accel participated in a $27m series-B for Vinted.

Vinted raised $6.5m from Accel in January 2013. It was at this time that Vinted transitioned from a desktop-based application to a mobile-first platform.

Company
Founded in 2008 and headquartered in Vilnius, Vinted operates a mobile, peer-to-peer marketplace for second-hand clothing that allows customers to post their unwanted clothing and buy clothing from others.

Vinted's app is available on iOS and Android in Lithuania, Germany, France, Poland, the Czech Republic, Austria and the US. The company claims to have 3 million members and 14 million listings on its platform.

The company employs approximately 80 staff.

People
Justas Janauskas is the CEO and co-founder of Vinted. Brad Twohig is a principal at Insight. Michiel Kotting is a partner at Accel. Martin Weiss is Hubert Burda Media's managing director.

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