<![CDATA[Secondary Scoop: GP-led]]>https://www.secondaryscoop.com/s/gp-ledhttps://substackcdn.com/image/fetch/$s_!PHrL!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2464c8e3-6967-4b29-bcb1-5beab74f0657_1080x1080.pngSecondary Scoop: GP-ledhttps://www.secondaryscoop.com/s/gp-ledSubstackMon, 27 Apr 2026 22:46:15 GMT<![CDATA[Vinted Closes €880M Secondary at €8B Valuation]]>https://www.secondaryscoop.com/p/vinted-closes-880m-secondary-at-8bhttps://www.secondaryscoop.com/p/vinted-closes-880m-secondary-at-8bMon, 27 Apr 2026 12:57:48 GMT

Photo: Vinted

Vinted, the C2C second-hand marketplace, has completed a €880 million secondary share transaction at an €8 billion equity valuation — one of the most notable secondary deals in the European tech ecosystem so far in 2026.

The transaction was led by EQT — an existing investor doubling down on its position — alongside two new shareholders: Teachers’ Venture Growth (TVG), the late-stage venture investment platform of Ontario Teachers’ Pension Plan, and Schroders Capital. Additional new investors include funds managed by BlackRock, Lombard Odier Investment Managers, and Pinegrove Opportunity Partners. Among existing shareholders, Baillie Gifford chose to increase its stake.

The deal was significantly oversubscribed.

Why This Deal Matters for the Secondary Market

This transaction is a textbook example of secondaries doing exactly what they’re designed to do: providing liquidity to existing shareholders and employees without the company needing to raise primary capital or pursue an IPO.

Vinted is not raising new money here. The company has been cash flow positive for several years, posted €62M in net profit in 2025, and has ample balance sheet capacity to self-fund growth. The secondary serves as a cap table rebalancing tool and a meaningful liquidity event for the team — reinforcing its value as a retention and reward mechanism.

The Financial Profile Driving Institutional Appetite

Vinted’s numbers speak for themselves:

  • 2025 GMV: €10.8B (+47% YoY)

  • 2025 Revenue: €1.1B

  • 2025 Net Profit: €62M

  • Markets: 26 countries

The combination of high-growth at scale with sustained profitability is precisely what secondary investors look for in an asset: audited metrics, business visibility, and a credible liquidity horizon — whether via IPO or a future secondary round.

A Shareholder Base Built for the Long Game

One of the most telling aspects of this deal is the profile of the incoming investors. TVG and Schroders Capital are institutional platforms designed to hold positions across both private and public markets — exactly the type of investor a pre-IPO company wants on its cap table to smooth the eventual transition to public markets.

Goldman Sachs International acted as sole placement agent. Cooley provided legal counsel to Vinted.

The Secondary Market Takeaway

This deal reinforces several trends we’ve been tracking at Secondary Scoop:

  1. Secondary transactions are no longer a distress signal. Vinted has used them as a deliberate cap table management tool in every funding round since 2015.

  2. Institutional LPs — especially pension funds — are increasingly active in growth-stage secondaries. TVG (Ontario Teachers’) is the clearest proof point.

  3. Oversubscription signals that demand for quality secondary assets continues to outpace supply, particularly in companies with strong fundamentals and demonstrated profitability.

Full Vinted Press Release: https://company.vinted.com/newsroom/secondary-share-transaction-at-€8B%20equity%20valuation

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