Vinted, a Lithuania-based e-commerce startup managed to raise the amount of $27 million in a Series C funding, which was led by Hubert Burda Media and had the participation of Accel Partners and Insight Venture Partners.
Vinted allows members to purchase, sell or give away used clothes, shoes, and accessories. Something that takes place on the Web and via its smartphone apps. The startup is planning to use the new capital in order to support its expansion to new markets outside of Europe and the US, and to further invest in its products and community. It must be noted that Vinted has a community with 11 million members, who spend an average of 45 minutes per day on the app to shop for more than 20 million available items!