Vinted Ventures plans to back tech companies tackling challenges in the re-commerce sector.
Vinted, a Lithuanian online marketplace for buying, selling, and exchanging new or secondhand items, has launched an investment arm.
Vinted Ventures will back startups in the re-commerce sector and companies that aim to reshape consumer behaviours in favour of second-hand products.
“Vinted is proof that it’s possible to successfully scale a tech business that’s both impactful and financially solid. The re-commerce space has enormous potential, hence we are excited to invest and grow startups that will ultimately benefit the wider market,” said Vinted CEO Thomas Plantenga in a press release.
The CVC plans to invest in series A through C, with cheque sizes between €0.5m and €10m ($0.6m to $1.1m). Along with capital, portfolio companies will also have access to an expert advisory network to help them grow.
“Through Vinted Ventures, we’re supporting ambitious founders whose products and services are solving real problems…We look forward to working closely with the future generation of innovators to change consumption habits and drive long-term success,” said Milda Jasaitė, senior director of corporate development at Vinted, in a press release.
