Lithuanian-based secondhand clothing marketplace Vinted has achieved a valuation of more than $9 billion through a secondary share sale, marking a significant milestone for the digital resale platform.

The transaction involved the acquisition of approximately 880 million euros worth of shares by a consortium of investors. Existing shareholder EQT led the deal alongside new investors Teachers' Venture Growth and Schroders Capital.

Vinted operates as a peer-to-peer marketplace where users can buy and sell pre-owned clothing and accessories. The platform has gained traction as consumers increasingly embrace sustainable fashion alternatives and circular economy practices.

The secondary share sale allows existing shareholders to monetize portions of their holdings while bringing new institutional investors into the company. This type of transaction differs from primary funding rounds, as the capital goes to selling shareholders rather than directly to the company for operations and growth.

The valuation represents substantial growth for the Lithuanian company, which has expanded its operations across multiple European markets. The platform competes in the growing online resale market alongside other secondhand marketplaces and traditional e-commerce platforms that have added resale functionality.