Founded in 2008 in Lithuania as a desktop application, Vinted became a mobile-first company after raising a $6.5 million Series A investment from Accel in January 2013. In the summer of that same year, the company launched in the U.S. Vinted plans to use its latest funding to expand in the U.S. and continue product development, with a focus on scaling up user growth, doubling development capacity and building its team in Lithuania to improve product features.
In total, VC investors have backed 278 apparel & accessories-related companies since the beginning of 2009, according to the PitchBook Platform. The deal pace in the space quickened from 2009 (37 deals) to a peak in 2012 (145). And while 2013 saw a 10% drop in deal flow from the previous year, capital invested experienced a 72% boost, bolstered by six deals of at least $100 million in size. Comparatively, 2012 only saw one $100 million+ deal and 2011 two.