Vinted, a Lithuanian online used-clothing retailer, has raised €128 million euros (roughly $140 million) in a funding round that valued it at more than €1 billion, making it the small Baltic nation’s first tech unicorn.
The round was led by Lightspeed Venture Partners and joined by prior backers such as Sprints Capital, Insight Venture Partners, Accel and Burda Principal Investments.
The capital will be used to accelerate Vinted’s product development and expansion across European markets, where it is already about 25 million users strong.
Vinted was founded in 2008 by Milda Mitkute and Justas Janauskas, and currently counts 300 employees. Check out our recent interview with Mitkutke here.
And yes, we’ll repeat it: the really has been an enormous rise of late-stage venture capital rounds flowing to European tech scale-ups lately.