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TPG makes €340m secondary investment in Vinted at $5bn valuation

An investment consortium led by US private equity firm TPG has made a $340m investment in Europe second-hand fashion marketplace specialist Vinted through a secondary share acquisition, giving the company a valuation of $5bn.

According to a press statement, the share sale, which brings a host of new investors on board, “marks a key moment for Vinted, and reflects the company’s profitable growth and its position as a leader in Europe’s booming second-hand market.”

TPG’s Tech Adjacencies (TTAD) fund spearheaded the investment, alongside other prominent funds such as Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures.

Vinted’s latest valuation is a significant jump from its €3.5bn pre-money valuation in 2021. Since then, the company has tripled its gross merchandise value (GMV) and achieved profitability.

In 2023, Vinted posted an impressive 61% revenue growth and a double-digit EBITDA margin, cementing its status as Europe’s top second-hand marketplace.

Vinted’s growth has been driven by its commitment to offering customers value at low costs, expanding into new markets such as Finland, Greece, and Croatia, and introducing a luxury item verification service across 10 countries. Recently, Vinted has also expanded its marketplace offerings, launching a new electronics category and growing its shipping business in the Netherlands, Belgium, and France.

As the company moves forward, Vinted continues to develop its payments business, having acquired an EMI license to enhance transaction experiences on its platform.

The latest investment provides Vinted with fresh capital and expertise as it embarks on its next phase of growth in the global second-hand market.

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