Vinted, the world’s largest pre-loved fashion and lifestyle marketplace, receives $27 million of Series C funding in a round led by Burda Principal Investments along Accel and Insight Venture Partners. The funding aims to support Vinted’s international expansion efforts.
This latest round of funding brings the total amount of venture capital Vinted has raised since 2013 to $60.6 million. The startup aims to use the funding to expand its service to new markets outside of Europe and the U.S. spreading the style-sharing experience and supporting mindful consumption by growing a community that puts resources to good use instead of adding to landfills.
“Hubert Burda Media is an ideal partner to drive our international growth,” said Justas Janauskas, CEO and Co-founder of Vinted. “Burda’s expertise in lifestyle media and scaling digital communities will be a major source of support for our expansion, which we’ll begin in early 2016.”
“Vinted’s business model is perfectly scalable and will work in practically any country,” said Martin Weiss of Burda Principal Investments. “We’re certain Vinted will benefit from Burda’s strong focus on digital media and the international media market.”
“Since first investing in Vinted, the company has charted a strong growth path and expanded to a number of new markets. This latest round of funding will allow it to continue its international growth and become a clear global market leader,” said Michiel Kotting, Partner at Accel in London.
Brad Twohig, Principal at Insight Venture Partners, said, “We are pleased to partner with Burda, who can support Vinted through its strong German brands as well as the international market.”
An important player in the thoughtful consumption movement, Vinted is set to increase the element of sustainability in the fashion industry by spreading the style-sharing experience and supporting mindful consumption. With an internal mission to make second-hand the first choice worldwide, Vinted is now ready to build new communities and help them change shopping habits.