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Ceturtdiena 21.09.2017 | Name days: Matīss, Modris, Mariss
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Lithuanian internet company Vinted has attracted 54 million in venture capital

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Lithuanian second-hand trade and swap site Vinted is one of Baltics’ leading internet companies that has attracted 11 million users and since 2013 venture capital totalling 54 million euros.

According to Forbes, the company is the brain child of co-founder Milda Mitkute, and it runs on the tech talents of her business partner Justas Janauskas.

The company has managed to attract 37 million euros in two venture capital rounds, and recently another 25 million euros in series C venture capital financing, most of it from German billionaire Hubert Burda and his group of media companies.

Burda owns numerous women’s fashion magazines, such as Elle and InStyle.

After the latest round, the total amount of venture capital Vinted has raisen since 2013 to 54 million euros.

Forbes reports that Vinted is an online clothing exchange, where mostly young woman under the age of 25 are cheaply selling «pre-loved fashion», while chatting up style trends, pop culture and boyfriend problems.

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