Vinted, the Lithuania-headquartered operator of a second-hand fashion marketplace, picked up €250m ($303m) today in a series F round featuring Burda Principal Investments, a subsidiary of media group Hubert Burda.
The round was led by EQT Growth, a fund operated by investment firm EQT, at a $4.2bn valuation, and it included Insight Partners, Lightspeed Venture Partners and Sprints Capital.
Founded in 2008, Vinted has built an online platform where users can buy and sell second-hand clothing and home goods. It has more than 45 million users located across 13 countries including the US, UK, France and Germany, and the cash will fund platform and technology development.
Vinted CEO Thomas Plantenga said: “We are grateful to our existing and new investors, and believe today’s milestone is a vote of confidence in our commitment to the circular economy and our relentless effort to build a business that encourages more people to buy and sell second-hand.”
The company has raised at least $562m of funding to date, including $141m in a late 2019 round that was led by Lightspeed Venture Partners at a $1.1bn valuation and backed by Burda Principal Investments, Sprints Capital, Insight Partners and Accel.
Sprints Capital had already led a $58m round that also featured Hubert Burda, Insight Partners and FJ Labs in 2018. Vinted had received $27m in a 2015 series C round co-led by Hubert Burda and existing backers Insight Partners and Accel.