Vinted secures investment from TPG-led consortium

Second-hand fashion marketplace Vinted has closed a secondary share sale of 340 million euros at a valuation of 5 billion euros.

The company said in a release that the transaction was led by TPG Tech Adjacencies (TTAD), TPG's strategy dedicated to providing flexible capital solutions to the technology industry. Other major investment funds including Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures also participated. All of Vinted's existing institutional investors remain invested in the company.

Commenting on the development, Thomas Plantenga, CEO of Vinted, said: "We're delighted to welcome new investors with the experience to support us through our next phase of growth, while continuing to benefit from the expertise of our long-term backers. TPG and our other new investors share our vision: to make second-hand the first choice, worldwide."

In 2021, at the time of Vinted's last fundraising round, the company had a pre-money valuation of 3.5 billion euros. Since then, the company has increased its gross merchandise value (GMV) by more than 3.5x and has become fully profitable. In 2023, the company delivered revenue growth of 61 percent and had a double-digit EBITDA margin.

"Vinted's customer focus, leading product experience, and sophisticated approach to logistics have made this market accessible to an even broader population. We are excited to partner with Thomas and his team of world-class operators and to count Vinted among our growing portfolio of leading European tech businesses," added Andy Doyle, partner at TPG.

In the last year alone, the company added that Vinted marketplace expanded in existing markets, and launched into new markets including Finland, Greece and Croatia. The company also launched a new verification service to help members trade designer and luxury fashion items more safely, which is now live in 10 countries.

In recent weeks, Vinted has begun the roll-out of a new category for electronics. And in parallel, the company has expanded its shipping business in the Netherlands, Belgium, and France.

Morgan Stanley & Co. International plc served as financial advisor and placement agent for the transaction. Taylor Wessing and Cooley provided legal advice to Vinted.