From their work with purpose-led start-up teams, BurdaPrincipal Investments have made some observations where social purpose provides start-ups with distinctive competitive advantages.
Vinted, Europe's largest marketplace for used fashion and accessories, today closed another financing round with a total volume of 50 million euros. Hubert Burda Media has been invested in Vinted since 2015 and, together with other existing investors such as Insight Venture Partners, is participating in the round led by Sprints Capital.
“Vinted has built a phenomenal platform for pre-loved fashion. They have put themselves into a unique position with consumers, have built a strong brand, and have built technology that is second to none.”
Martin Weiss, Board Member of Hubert Burda Media
The new financing round accompanies the company, which now operates in nine markets, in an extraordinary growth phase: Since 2016, Vinted has increased sales 11-fold.
"Martin Weiss of Burda has been a very strong support during the turn-around helping the team to get where we are."
Thomas Plantenga, CEO of Vinted
Vinted has offices in Berlin, Vilnius (Lithuania), Warsaw and Prague and employs more than 200 people.