The startup attributes its profitability to significant growth, starting with increased penetration in existing markets and its expansion to Romania, Denmark, and Finland.
Vinted turned a â¬20.4mn net loss in 2022 into a â¬17.8mn net profit in 2023, with an adjusted EBITDA at â¬76.6mn.
Thomas Plantenga, CEO of Vinted, highlighted that 'Our performance in 2023 was not only proof that we can deliver strong growth but that we are at the forefront of a market with huge potential.'
Vinted is the first unicorn of Lithuania, showcasing the rapid growth of the country's startup ecosystem with a seven-fold increase in enterprise value from 2018 to 2023.
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