Vilnius-based C2C second-hand marketplace has reached a valuation of $8bn after a €800m second share sale.
Lithuanian second-hand market Vinted has completed the sale of a second share for 880 million euros in the equity value of EQT, EQT, Ontario Teachers’ Pension Plan and Schroders Capital leading the deal.
The Vilnius-headquartered C2C marketplace said transactions were oversubscribed. Vinted is not raising any new capital, and the deal instead provides capital to employees and long-standing institutional investors.
EQT for existing investors has increased its value. Teachers’ Venture Growth (TVG), a late-stage entry platform for the Ontario Teachers’ Pension Plan, and Schroders Capital join as new shareholders, along with funds managed by BlackRock, Lombard Odier Investment Managers and Pinegrove Opportunity Partners. Existing investor Baillie Gifford also increased its position.
Vinted said the round broadens its base with institutional investors who can tap into both the private and public markets.
The ratio shows a strong recent trade. By 2025, Vinted has grown its gross merchandise value (GMV) by 47pc year-on-year to €10.8bn, generating €1.1bn in annual revenue and €62m in gross profit across 26 markets. The company has been profitable for several years.
Thomas Plantenga, CEO of Vinted Group, said the agreement “shows the progress we’ve made to build Vinted into what it is today, a proven marketplace embedded in a system of transport infrastructure and integrated payments, designed to make second-hand purchases reliable, simple and affordable”.
“Second-hand online is growing faster than traditional e-commerce,” he added. “We’ve built the foundations in Vinted Marketplace, Vinted Go and Vinted Pay so we’re well-positioned to capture and drive this growth.”
Carolina Brochado, a partner at EQT, said the firm is “doubling down” on its convictions at the company. “Vinted has built a leading technology business in Europe, combining strong growth with strategic execution,” he said.
Avid Larizadeh-Duggan, head of EMEA for Teachers’ Venture Growth, said that Vinted’s market place is “differentiated by its scale, profitability, and direct approach”, and noted that the company has grown beyond fashion into closely related categories such as electronics.
Steven Yang, global head of investments, private equity at Schroders Capital, said Vinted is “at the heart of a structural change in the way people spend”.
Vinted became the first Lithuanian tech unicorn back in 2019 when investment from the likes of Accel, Insight Partners, EQT, Lightspeed and Sprints was worth more than $1bn, and in 2024 it brought new investors in a round led by American investment group TPG, worth $5bn.
Founded in 2008 in Vilnius, Lithuania by Milda Mitkute and Justas Janauskas, Vinted has surpassed many of its used market competitors by making itself available throughout Europe rather than focusing on local areas. It recently expanded to Croatia, Greece and Ireland, and now has over 100m customers in 22 European countries.
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