Vinted accelerates its growth and raises 128 million euros

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140.9 million dollars, or just over 128 million euros. This is the amount raised a few hours ago by Vinted, the famous application for trading clothes between individuals. With this new fundraising by a new investor, the company is now worth more than a billion dollars.

It is through a press release that the company Vinted, owner of the application of the same name, announces that it has found a new investor: Lightspeed Venture Partners.

Following a meeting also attended by former investors (Sprints Capital, Accel, Burda Principal Investments…), Vinted raises a new investment of 128 million euros (approximately 140.9 million dollars).

Although the exact figure is unknown, the company is now estimated to be worth just over $1 billion.

In an interview conducted after the announcement, Thomas Plantenga, CEO of Vinted, explains that these funds will be used primarily to develop the application’s business in Europe.

Despite its complicated beginnings, Vinted is now widely used, especially in France.

Vinted, the success story of a startup

Founded in 2008, the Vinted application was born from the idea of two Lithuanian investors: Milda Mitkute and Justas Janauskas. The basic principle was to allow Lithuanian residents to easily exchange unused clothing.

Despite a launch in the United States in 2010 and in Europe a few years later, the beginnings are difficult. The application is struggling to make itself known despite several investments:

  • 5.2 million euros by Accel Partners in 2013.
  • 20 million from Insight Partners in 2014.
  • 27 million euros from Burda Principal Investments in 2015.

It was only around 2016, with the arrival of Thomas Plantenga, that the company experienced its greatest growth.

France is becoming the country where Vinted’s activity is the strongest, and this is constantly growing: Vinted claims more than 23 million members across the 11 countries where the application is available. More than half of the regular users are French.

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