Vinted Completes €340 Million Secondary Share Sale
Vinted, Europe’s leading second-hand C2C marketplace for fashion, has successfully completed a €340 million secondary share sale, valuing the company at €5 billion. This transaction, led by TPG (NASDAQ: TPG), a prominent global alternative asset manager, acknowledges the contributions of employees and early investors to Vinted’s growth and positions the company for its next expansion phase.
In 2023, Vinted reported an impressive 61% revenue growth and achieved profitability while continuing to invest in future initiatives. The investment, which includes participation from Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures, diversifies Vinted’s investor base and supports its global second-hand market development.
Since its last fundraising round in 2021, when it had a pre-money valuation of €3.5 billion, Vinted has increased its gross merchandise value (GMV) more than 3.5 times. Today, over 37% of its members report that second-hand items comprise at least half of their wardrobes.
To foster this growth, Vinted has expanded into new markets, including Finland, Greece, and Croatia, and launched a verification service for trading luxury items. The company is also introducing a new category for electronics and has enhanced its shipping services in the Netherlands, Belgium and France.
CEO Thomas Plantenga expressed excitement about welcoming new investors who align with Vinted’s vision of making second-hand fashion the first choice globally. He emphasized the company’s commitment to creating a successful, profitable business that benefits communities and the environment.
TPG Partner Andy Doyle noted the increasing consumer preference for second-hand clothing driven by sustainability and flexibility, praising Vinted’s customer focus and efficient logistics. Morgan Stanley & Co. International plc, served as the financial advisor for the transaction, with Taylor Wessing and Cooley providing legal counsel to Vinted.
