Vinted, a portfolio company of BurdaPrincipal Investments, the growth capital arm of Hubert Burda Media, announced a €128 million Series E funding round.
The Scandinavian fashion platform Miinto has acquired the leading Polish fashion platform for upcoming fashion Showroom. Hence Showroom customers will soon gain access to hundreds of Scandinavian fashion brands while the designers will have a chance to enter new international markets. Hubert Burda Media has been investing in the Warsaw-based company since 2012 and is now joining Miinto as an investor. Showroom founder Michał Juda and his team will continue developing the platform after Miinto’s acquisition.
Vision of a European fashion platform
“With this partnership, we combine the knowledge of the Showroom team which is focused on independent designers with Miinto’s innovative model for fashion e-commerce. We are excited to be part of their vision of a European fashion platform and look forward to working together. Miinto fits perfectly to our strategy of supporting fast growing digital companies.”
Christian Teichmann, Managing Director BurdaPrincipal Investments
“We are pleased to be able to welcome Burda to our group of investors. We have had good dialogue with their team throughout the process and have great respect for them. In addition, they have an impressive portfolio of media and digital companies under their umbrella and have a strong position on many exciting markets such as Germany, the UK, Poland, the US and Asia. They will be a strong asset on Miinto’s future journey.”
Konrad Kierklo, Miinto-CEO
Miinto was founded in 2009. Since then the fashion platform continues its European journey of growth by breaking with the traditional e-commerce way of large, cash-heavy stock and centralised distribution. Instead, hand-picked fashion stores and brands are gathered on a shared online platform. Miinto cooperates with more than 1,800 fashion stores and brands from seven markets (Denmark, Sweden, Norway, The Netherlands, Belgium, Poland, Switzerland). The company counts more than 130 people distributed between the head office in Copenhagen and regional offices in Oslo, Amsterdam, Warsaw and Zurich.