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Lithuania’sVintedhassecureda raw valuation of € 5 billion ( around $ 5.4 billion at current interchange rate ) , afterthe 2d - hired man fashion marketplaceclosed a secondary share sale deserving € 340 million ( $ 367 million ) .
The dealing was led by private fairness giantTPG , with other new participants including Baillie Gifford , FJ Labs , Hedosophia , Invus Opportunities , Manhattan Venture Partners , and Moore Strategic Ventures . It ’s unclear how much Vinted ’s existing investors cash out , but the company says that all its existing institutional investors — which admit Accel , EQT , Insight Partners , and Lightspeed Venture Partners — have retained at least some stake .
It ’s proving to be a bumper year forsecondary market transaction , particularly in Europe , as weighing machine - ups seek to unlock liquidity for their employee and VCs in adecidedly tepid IPO market . In the preceding few month alone , we’ve seen neobanks RevolutandMonzo engage secondary marketroutes , attaining lofty valuation off the back of strong user growth and lucrativeness .
In the U.S. , meanwhile , fintech giant star Stripe follow a interchangeable itinerary to unlock liquidity , extend to a individual valuation of $ 65 billion back in Februaryas it carry on to stay a long - rumored IPO . This figure after jumped to$70 billion as Sequoia look for a larger stakefrom survive investors .
Vinted CEO Thomas Plantenga ( pictured above ) noted that the sales event “ rewards our employees for their dedication in making Vinted a succeeder . ” The company was prize at € 3.5 billion ( $ 3.8 billion ) pre - money for its previous€250 millionSeries F fundraise back in 2021 . Since then , it has blend from strength to strength , reporting recordrevenue growth of 61 % in 2023 compared to the previous year and reaching lucrativeness for the first clock time .
At the same time , Vinted has expanded geographically and is also extending beyond its core fashion solution into the electronics realm — a development trajectory that instigate marketplace stalwarteBay to react by take away seller feesin fundamental European markets .
