Vinted, a Vilnius, Lithuania-based second-hand fashion marketplace, raised €128m in funding.
The round, which valued the company at €1 billion, was led by new investor Lightspeed Venture Partners, with participation from existing backers Sprints Capital, Insight Venture Partners, Accel and Burda Principal Investments.
Full In Partners was added to the list on February 24, 2020.
The company intends to use the funds to accelerate product development and growth across Europe.
Founded in 2008 and led by Thomas Plantenga, CEO, Vinted is a second-hand fashion marketplace that offers a peer-to-peer mobile experience for users to sell, buy and swap secondhand clothing.
People who download the free app, can browse millions of unique items, search thousands of brands, find favourites, ask the seller any questions, then buy with the tap of a button. They can pay securely via PayPal, bank card, or the Wallet.
Currently, the company operates in such markets as Spain, France, Luxembourg, Belgium, the Netherlands, Germany, Austria, the Czech Republic, Poland, Lithuania, the UK, and the USA), and employs over 300 people.
Vinted’s offices are based in Vilnius, Berlin, Warsaw, and Prague.