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International Internet Magazine. Baltic States news & analytics Monday, 06.07.2020, 13:16

Lithuania's Vinted attracts 50 mln euros investment

BC, Vilniaus, 29.08.2018.Print version
Lithuanian-founded clothing exchange platform Vinted has attracted a 50 mln-euro venture capital investment, making it the biggest publicly-known financial injection in the history of Lithuanian start-ups, informs LETA/BNS referring to the Verslo Zinios business daily.

Venture capital fund manager Sprints Capital was the key participant in the new investment round which also included Insight Venture Partners, a venture capital fund already having a Vinted stake, and Hubert Burda Media, one of Germany's biggest media companies.

Vinted plans to invest new funds into improving its online marketplace, marketing and other needs. Verslo Zinios wrote earlier that Vinted was on the verge of bankruptcy in 2016 but the company's managers say now the new investment marks a new development stage.

Vinted also attracted a 25 mln-euro investment in 2015 and Hubert Burda Media was among the investors at the time.

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