Vinted enters three European markets as revenue hits €1.1bn

Vinted adds Latvia, Estonia and Slovenia as trading reaches €10.8bn

Vinted expanded into Latvia, Estonia and Slovenia in 2025, extending its European secondhand marketplace in a year when the value of goods traded reached €10.8bn. Silicon Canals reports that gross merchandise value rose 47% from the previous year, while revenue increased 38% to €1.1bn. The figures distinguish the total value of transactions from the income Vinted generates through its services.

The expansion came with lower earnings. According to the company’s annual results, reported by Silicon Canals, net profit declined 19% to €62m and adjusted earnings before interest, tax, depreciation and amortisation fell 5% to €151m. Vinted remained profitable while committing more resources to developing its business, rather than translating all its additional revenue into higher earnings.

Delivery infrastructure now gives that marketplace substantial physical reach. Silicon Canals reports that Vinted’s delivery partners provide access to more than 500,000 pick-up and drop-off points across Europe. Its own parcel carrier, Vinted Go, operates directly in Belgium, France, the Netherlands, Portugal and Spain. That five-country carrier footprint is distinct from the wider network available through partners.

From a Vilnius side project to a single European brand

Vinted began in Vilnius in 2008 after Milda Mitkutė found she had too many clothes to take to a new flat. Software developer Justas Janauskas built a website to help her pass them to people she knew. Silicon Canals describes the original venture as a side project without a marketing budget, operating under a Lithuanian name that translated approximately as “my clothes”.

Its first international opening came through a personal connection rather than a conventional expansion programme. A couch-surfing visitor from Munich discovered the website and helped introduce the concept to Germany, where it launched as Kleiderkreisel. Further country-specific sites followed, initially maintaining separate names and relatively small communities, according to Silicon Canals.

Vinted subsequently brought those local operations together under one brand, deciding that a recognisable platform across Europe offered a better approach than a collection of separate identities. The company retained Vilnius as its home. That transition changed the task of expansion: instead of establishing another locally named service, the business could extend an existing marketplace identity into additional countries.

The commercial model also separates Vinted from resale platforms that have historically charged sellers a commission. Listing and selling cost Vinted sellers nothing. Silicon Canals, citing Vinted’s Buyer Protection fee page, reports that buyers instead pay a fixed charge of roughly $0.70 plus about 5% of the item’s price, charged in their local currency. Those figures describe fees as of late 2025, rather than a guaranteed price for every subsequent transaction.

Sellers can nevertheless pay for greater visibility. Silicon Canals reports that Closet Spotlight places five listings from a seller into other users’ feeds for a week in return for a flat fee. A separate per-item promotion, known as a bump, raises a listing in search results, with pricing that varies by category and demand. These optional services provide a commercial layer beyond the buyer-side transaction charge.

External funding helped finance the development of the business and its logistics capabilities. In November 2019, Vinted raised €128m in a round led by Lightspeed Venture Partners, alongside Accel, Insight Partners, Sprints Capital and Burda Principal Investments. Silicon Canals reports that the deal took Vinted’s valuation above $1bn and made it Lithuania’s first unicorn.

EQT Growth led a further $303m investment in 2021, valuing Vinted at $4.5bn, with its core existing investors returning. According to Silicon Canals, that was the final outside funding round before the company first became profitable. The sequence matters for market expansion because it marks the move from building with investor capital towards having internally generated earnings available for further development.

That first annual profit arrived in 2023, when Vinted recorded revenue of €596.3m and net profit of €17.8m. Silicon Canals cites coverage by The Next Web identifying the result as the company’s first profitable year since its foundation. The milestone followed roughly 15 years of developing the marketplace, illustrating the long commercial runway behind its present scale.

Thomas Plantenga puts investment ahead of higher earnings

Chief executive Thomas Plantenga attributed the latest earnings trade-off to spending on expansion, according to Silicon Canals’ account of the results announcement. He identified a stronger push in Germany, diversification into categories beyond clothing and the launch of the Vinted Pay payments wallet. Germany’s inclusion shows that investment is not confined to entering additional countries: developing an established market is also part of the strategy.

Investor interest had been framed around the prospect of building an enduring business. Silicon Canals reports that Lightspeed partner Brad Twohig described the firm’s investment approach at the time of the 2019 round as seeking “outlier management teams building generational companies”. That was an investor’s stated rationale, rather than a forecast of particular financial results or a commitment to a market-entry timetable.

US ambitions leave a delivery challenge to resolve

Vinted has said it intends to take the same model to the United States, according to Dealroom’s coverage of the annual results, cited by Silicon Canals. The supplied reporting gives no launch date or detailed rollout schedule. The stated ambition therefore establishes a direction for expansion, but does not specify when consumers or commercial partners should expect the next operational step.

Silicon Canals identifies the transferability of the European logistics model as an unresolved question. The United States has different postal and returns infrastructure, so the existing delivery approach cannot simply be assumed to work on the same terms. The practical test is whether Vinted can provide dependable, affordable shipping under those conditions, rather than whether it can reproduce the marketplace interface.

For companies considering entry into the UK or continental Europe, the case highlights a planning distinction between launching a consumer service and securing the operations needed to fulfil its transactions. Delivery access, payment arrangements and a consistent customer-facing identity are separate decisions with their own investment requirements. The source reports no new UK launch or timetable; its immediate European expansion news concerns the three newly added countries.