European giant Vinted Group, which includes the European C2C second-hand marketplace Vinted, has launched a dedicated investment arm.
Vinted Ventures will be backing the next generation of startups to accelerate re-commerce and reshape consumer behaviours in favour of second-hand.
The investment arm will offer funding from €500,000 to €10m as it targets Series A-C stage companies.
“Through Vinted Ventures, we’re supporting ambitious founders whose products and services are solving real problems, and who are ready to define the next frontier of how people buy, sell, and value the things they own,” said Milda Jasaitė, senior director of corporate development at Vinted.
“We look forward to working closely with the future generation of innovators to change consumption habits and drive long-term success.”
Thomas Plantenga, CEO of Vinted, added: “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.”
A spokesperson from the retail platform told City AM: “Vinted Ventures will be targeting eCommerce start-ups across Europe, including the UK.
“We’re always talking to interesting companies: it’s about finding the best strategic fit and investing in the strongest startups that can benefit from us as a strategic partner.”
In addition to capital, Vinted says portfolio companies will gain access to an expert advisory network from across the company, offering tailored guidance to help them navigate growth and complexity.