2nd-hand clothes marketplace Vinted raises $303M, used by 45M and now valued at $4.5B
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- Vinted, the clothes and home goods marketplace, has closed an all-equity round of €250 million ($303 million at today’s rates), funding that values the company pre-money at €3.5 billion ($4.2 billion, or $4.5 billion post-money).
- The funding is being led by EQT Growth, with Accel, Burda Principal Investments, Insight Partners, Lightspeed Venture Partners, and Sprints Capital — all previous backers — also participating.
- Vinted currently has some 45 million users (which is a neat number in this case: 45 million=$4.5 billion valuation), who upload their own items of clothes or home goods to sell or buy those uploaded by others. Users pay no fees for listing, but Vinted takes a “buyer protection” rate that is either between 3% and 8% of the cost of an item, or a direct cut (in the UK – between £0.03 and £0.08), depending on the value of the good.
- Vinted has operations across 13 markets — France, Germany, Belgium, Spain, Italy, the Netherlands, Austria, Poland, Czech Republic, Lithuania, Luxembourg, UK and the U.S. — and will be using the funding to double down on that while moving deeper into markets further afield, like its U.S. operation.