Lithuania crowns its first tech unicorn! Vinted, second-hand fashion marketplace, pockets €128 million and secures €1 billion valuation | EU-Startups
Summary
Vinted, a social marketplace for pre-loved clothing, has taken the spot as Lithuania’s first tech unicorn, after raising a stellar €128 million. Vinted, was founded in 2008 in Vilnius, Lithuania, and offers a peer-to-peer mobile experience for users to sell, buy and swap secondhand clothing. Firstly, it shines a spotlight on the startup ecosystem of Vilnius, Lithuania, an increasingly innovative entrepreneurial hub. A hot topic making news in many circles, this growing social impact trend can be seen reflected in the creation of startups such as London-based Depop, who we wrote about recently raising 55 million in a Series C round. Thomas Plantenga, CEO of Vinted, commented, “We are approaching an inflection point in the market for second-hand fashion; consumers around the world are becoming increasingly conscious of their buying choices.