Lithuania

Last Friday, the winners of the first Baltic Ecommerce Awards were announced. The main award, the Grand Prix, was presented to HackMotion. This Latvian company sells sports technology.

Second-hand fashion marketplace Vinted generated a revenue of 596.3 million euros last year. This was an increase of 61 percent compared to 2022, when the platform generated 370.2 million euros. It has also reached profitability.

Secondhand fashion platform Vinted is considering a secondary share sale, worth more than 200 million euros. The platform, which is currently operating at a loss, is looking into its capital structure. This means that is currently not planning an IPO.

Clevon, a startup from Estonia, claims a European first in the field of autonomous delivery. Several driverless carriers from the company are navigating public roads, delivering groceries in the Lithuanian capital, Vilnius.

Secondhand fashion marketplace Vinted says that it is technically ready for an IPO. However, the company currently has no plans of going public. The CEO envisions a different type of growth for the company, to become a stronger tech company that will last for decades.

The Lithuania-based online supplier of prefabricated wooden buildings, Pineca, is launching an online store in the Netherlands. This is the company’s second expansion within Europe in this year. The company is already active in the United Kingdom, France, Germany, Italy, Spain and Portugal as well.

Vinted, the marketplace for secondhand fashion, has made 118 million euros in losses in 2021. That is a fivefold increase compared to a year before, when the company was only 24 million euros in the red. At the same time, revenues increased from 148 million to 245 million euros.

The operator behind Pigu and Hobby Hall Group (PHH Group), well-known marketplaces in the Baltics, has partnered with SME Finance. Together, they are launching collateral-free revenue-based financing (RBF) to marketplace sellers. Merchants can get access to financing within the same-day of their request.

Zalando has launched its online store and platform in Lithuania, Slovakia, and Slovenia today. The German fashion giant has also announced it will further expand to Croatia, Estonia, and Latvia this year, and to Hungary and Romania next year.

Omniva will expand its network of parcel machines in Estonia, Latvia, and Lithuania, also known as the Baltic states. The Estonian postal company already owns 43 percent of the parcel machines in Estonia and accounts for 57 percent for that country's total parcel volume.

Ziticity, a urban logistics platform from Lithuania, has raised 2.2 million euros. The seed equity investment round was led by NordicNinja VC. With the money, the same-day delivery platform wants to expand in Europe.

Food Union, a dairy production and distribution company from Latvia, has launched an ecommerce distribution service in four markets across Europe. The Riga-based company now delivers ice cream, dairy products, pastry and frozen food to customers in Latvia, Lithuania, Romania and Denmark.

H&M Group has announced the online expansion of five of its brands. This month, COS, Weekday, Monki, & Other Stories and Arket will have their collections available online in nine new markets across Europe.

Vinted, a marketplace from Lithuania, has raised 128 million euros in a round led by Lightspeed Venture Partners. With the money, the site where consumers can sell and buy second-hand fashion wants to accelerate its rapid growth across Europe.

Ziticity, a startup from Lithuania, wants to deliver packages in Europe from pick-up points to customers within one hour. The logistics company just raised a €315,000 seed round led by Estonia-based early stage fund Superangel, with participation from Practica Capital, Startup Wise Guys, and angel investor Mikko Silventola.