Vinted launches venture capital arm with eye on UK start-ups
Vinted, the Lithuanian-founded secondhand marketplace, has launched its own venture capital (VC) arm and is eyeing UK start-ups.
The move adds new competition to the UK’s fast expanding, re-commerce and resale market, now worth already £7bn, as major platforms look to capitalise on shifting consumer habits driven by inflation and sustainability concerns.
Vinted Ventures will focus on investing in growth-stage start-ups, writing cheques between €500,000 (£424,983) and €10m (£8.5m).
A spokesperson from the retail platform told Morning Wire that “Vinted Ventures will be targeting e-commerce start-ups across Europe, including the UK”.
They added: “We’re always talking to interesting companies: it’s about finding the best strategic fit and investing in the strongest startups that can benefit from us as a strategic partner.”
London, in particular, has emerged as a hub for circular economy start-ups, with companies like Depop or By Rotation tapping into Gen Z’s growing appetite for secondhand fashion.
While the company declined to confirm whether it would base any of its investment team in the UK, the spokesperson added: “Currently, the Vinted Ventures team is based in various locations in Europe – it’s too soon to comment on future hiring.”
They told Morning Wire that its new VC arm is looking for companies that are “trying to reshape consumption”, including those developing new solutions in logistics, payments, or across the wider re-commerce value chain.
The launch follows a strong year for the Vilnius-based company.
Vinted recently reported revenue of €813.4m (£691.8m) and a net profit of €76.7m (£65.23m) – marking a 330 per cent increase year on year, as it expanded into new European markets and scaled its logistics and payments arms.
Though relatively rare for scale-ups of its size, Vinted’s VC push mirrors moves by bifger tech firms like Coinbase, which have also launched investment platforms to back startups aligned with their ecosystems.
Vinted said its goal is to help accelerate re-commerce as a whole, without focusing primarily on financial returns.
Chief executive Thomas Plantenga said: “Vinted is proof that it’s possible to successfully scale a tech business that is both impactful and financially solid.
“The re-commerce space has enormous potential, hence we are excited to invest and grow start-ups that will ultimately benefit from the wider market.”
Details on Vinted Ventures’ first investments remain under wraps.