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The deal was organized with the participation of the existing shareholder EQT, which increased its stake, Fashion Network writes. New participants include Teachers’ Venture Growth and Schroders Capital, as well as major international investment structures including BlackRock, Lombard Odier and Pinegrove Opportunity Partners. A number of existing investors, including Baillie Gifford, have also increased their positions.
Vinted emphasized that the offering is secondary in nature and does not involve raising new capital for the company. The main purpose of the transaction is to provide liquidity for employees and early investors, as well as to expand the base of long-term institutional shareholders.
The €8bn valuation, the company said, reflects the combination of rapid growth and sustained profitability, as well as market confidence in the platform’s future development.
Vinted increased its gross merchandise turnover (GMV) by 47% to €10.8bn at the end of last year. The company’s revenue amounted to €1.1 billion and net profit amounted to €62 million. The platform operates in 26 markets and continues to expand its ecosystem of services, including logistics and payment solutions.
CEO Thomas Plantinga said the deal confirms the company’s progress and strengthens its position as a technology infrastructure for the second hand market. According to him, the clothing resale segment is growing faster than traditional e-commerce, and Vinted has already laid the groundwork for further scaling through its own delivery and payment services.
The company says it intends to continue to use its own cash flow to fund growth, keeping its focus on scaling without raising additional primary capital.
