Vinted

Vinted was established in 2008, when one of the founders decided to sell excess clothes after moving to a new house. Vinted is headquartered in Vilnius.

Performance indicators

In 2018, the company's revenue tripled to €32.9 million. However, the net loss quadrupled to €42 million.

History

2022: Investing in Nord Security VPN Service

On April 6, 2022, Nord Security, which develops the service of virtual private networks NordVPN, announced the attraction of $100 million from investors with a total project valuation of $1.6 billion, which makes it the second unicorn technology startup in Lithuania (worth more than $1 billion). More details here.

2020: Vinted - among the European companies that attracted the most investments in 5 years

The European technology companies that attracted the most investments from 2015 to 2 February 2020

2019: Company value reached $1 billion

At the end of November 2019, it became known that the first technology company worth $1 billion appeared in Lithuania - the Vinted online used clothing store.

It became known that the first technology company worth $1 billion appeared in Lithuania - the online used clothing store Vinted

The financing round, which took place at the end of November 2019, allowed Vinted to attract about €128 million (about $140 million), due to which the company's value exceeded $1 billion.

Vinted's main investor was American the Lightspeed Venture Partners investment fund. The funding round was also attended by (Insight Venture Partners s), Twitter Tumblr Accel (s) and Facebook Slack Spotify Sprints Capital (s). Revolut

According to representatives of Vinted, the funds received will be used to further expand the business in Europe, as well as to attract more employees. The startup is already known to 25 million users from 11 European countries, including France, Germany, Spain and the Netherlands, as well as the United States.

There are 61 European technology companies in Europe worth more than $1 billion, of which 17 crossed this line in 2018. Taking into account the new achievements of Vinted, it can be noted that a third of these companies, with the exception of the giants of Western, Europe were founded in the Baltic region, that is, in Lithuania Estonia Latvia. These include the joint travel service Bolt and the money transfer service provider TransferWise., Skype which is part of, and Microsoft the gaming manufacturer software Playtech were also founded in Estonia.^[1]

Notes