Online apparel retailer Vinted raises €128m from Lightspeed Venture and others

US venture capital firm Lightspeed Venture Partners has led a EUR128 million Series E funding round for Vinted, a Lithuanian second hand apparel online marketplace.

The funding was also backed by previous investors including Sprints Capital, Insight Venture Partners, Accel Partners, and Burda Principal Investments.

Through its app, the second hand apparel online marketplace lets sellers to sell their item with no listing fee. Buyers, on the other hand, have to pay a buyer protection fee which is 5% of the item’s price in addition to shipping cost and taxes.

Lightspeed stated: “Vinted has that rare combination of a world-class team with impressive ability to execute, one of the most amazing products we have seen that surpasses many social networks by time spent, a passionate and highly engaged member base, and unstoppable macro trends in consumer behavior.”

Online apparel retailer Vinted raises €128m from Lightspeed Venture and others. Image by Free-Photos from Pixabay.