At a valuation of US $ 5.39 billion, Vinted, a marketplace for secondhand clothing, has closed a secondary share sale for US $ 366.76 million.
According to a press release from the firm, TPG Tech Adjacencies (TTAD), a division of TPG devoted to provide adaptable financing solutions to the technology sector, spearheaded the deal. Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures were among the other prominent investment funds that took part. Every one of Vinted’s current institutional investors still has a stake in the business.
“While continuing to gain from the experience of our long-term backers, we are excited to welcome new investors with the background to help us through our next stage of growth,” Vinted CEO Thomas Plantenga stated in response to the news. “Our objective of making used goods the preferred choice worldwide is shared by TPG and our other new investors.”
The company was valued at US $ 3.78 billion before its most recent financing round in 2021. Since then, the business has achieved full profitability and grown its gross merchandise value (GMV) by more than 3.5 times. The company’s revenue increased by 61 per cent in 2023, and its EBITDA margin was double digits.
The company also stated that Vinted Marketplace entered new areas, such as Finland, Greece, and Croatia, and grown in its current markets in only the past year. In order to assist members trade designer and premium apparel items more securely, the company also introduced a new verification service that is currently available in ten countries.
