The #AskTheBoss series provides insights into different departments. This time, we talked to Christian Teichmann, CEO at BurdaPrincipal Investments (BPI), the growth capital arm of Hubert Burda Media.
Vinted, Europe’s largest online C2C platform dedicated to second-hand fashion and a portfolio company of Burda’s growth capital arm BurdaPrincipal investments, has raised €250 million of new investment in a Series F funding round. The investment, made at a pre-money valuation of €3.5bn, was led by EQT Growth. BurdaPrincipal Investments participated in the round alongside previous lead investors Accel, Insight Venture Partners, Lightspeed Venture Partners, and Sprints Capital.
Vinted will use the proceeds to help more people participate in the circular economy and continue delivering on its mission to make second-hand fashion the first choice. This includes expanding into new geographies both within Europe and beyond, at the same time as continuing to improve the overall member experience by investing into trust and safety, and new product tools and features. To support these initiatives, Vinted will continue expanding its team, which increased by around 75% over the last 12 months to more than 700 people. The new investment will support an expansion of Vinted’s Berlin office as a location for key new teams including within Engineering and Product.
“We are contributing to a seismic shift in the second-hand fashion market, enabling more sustainable, socially-responsible shopping habits. Our platform offers a great, easy-to-use product and helps people experience the benefits of second-hand trade. We want to replicate the success we’ve built in our existing European markets in new geographies and will continue investing to improve not only our product, but also to ensure we continue having a positive impact. We are delighted to be welcoming EQT Growth as our new investor and are grateful to our existing backers. We believe today’s milestone is a vote of confidence in our commitment to the circular economy and our relentless effort to build a business that encourages more people to buy and sell second-hand.”
Thomas Plantenga, Vinted CEO
"We are thrilled to see how Vinted continues to transform the second-hand fashion market across Europe with a leading consumer platform for the circular economy. We are looking forward to continue supporting Thomas and the Vinted team delivering on their mission making second-hand fashion the first choice!”
Martin Weiss, Board Member at Hubert Burda Media and Board Member at Vinted