VILNIUS – Vinted, said to be Europe’s largest consumer-to-consumer (C2C) marketplace for second-hand fashion, has raised €128 million in an equity funding round which it will use to expand both its team and remit across the continent.
The third-party platform has a reported 25 million users which span 11 countries. Now, with a recalculated value of more than €1 billion, the Lithuanian firm will look to capitalise on growing consumer appetite; according to research from consignment store ThredUp, the second-hand market is currently worth US$24 billion and is expected to double in the next five years.
