We advised TPG, a US venture capital fund manager, on its investment in Vinted, Europe’s leading second-hand C2C marketplace focused on fashion.
The TPG-led group of investors acquired EUR 340 million of shares, valuing Vinted at EUR 5 billion. This is the largest investment in the Baltic start-up ecosystem this year and the largest ever in Lithuania.
“We’ve seen that consumers are increasingly choosing second-hand as a core part of their wardrobe, as sustainability and flexibility become top of mind for many people. Vinted’s customer focus, leading product experience, and sophisticated approach to logistics have made this market accessible to an even broader population,” comments Andy Doyle, partner at TPG.
At the time of Vinted’s last fundraising round in 2021, the company had a pre-money valuation of EUR 3.5 billion. Since then, Vinted has increased its gross merchandise value (GMV) by more than three and a half times and has become fully profitable. In 2023, the company delivered revenue growth of 61%.
Our team and services
Our team, consisting of partner Mantas Petkevičius, senior associate Matas Mačiulaitis, and associate Izabelė Petrikaitė, acted as TPG’s local legal advisors.
