Project Description

Vinted

Vinted manages 15 different international markets with NetSuite

In 2019, a second-hand fashion company called Vinted became Lithuania’s first tech unicorn when they raised 128 million euros of funding with a valuation of one billion euros. This level of growth meant they started to look for an ERP solution that would better suit their needs and scale with their growth. After comparing different options, they chose NetSuite, a flexible cloud-based solution. Staria was chosen to implement it, and the collaboration between the companies has grown to be a very close one ever since.

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Vinted was founded in 2008 in Vilnius, Lithuania, and offers a peer-to-peer mobile experience for users to sell, buy and swap secondhand clothing. Over the last few years, Vinted has become Europe’s largest consumer to consumer marketplace dedicated to secondhand fashion. It has over 45 million users and is used in 15 different countries, including North America. Today, more than 1000 dedicated people are working at Vinted to make second-hand fashion the first choice.

Before NetSuite was implemented, Vinted was comparing various ERP solutions. It was crucial to find a solution that would grow with their business and be user-friendly at the same time.

Another company was using NetSuite, and the discussion with them encouraged Vinted to learn more about NetSuite and contact Staria.

– One of the major benefits of NetSuite was that it is a scalable cloud-based ERP solution. After seeing the NetSuite demos, we knew that we have found the right system for us. After choosing the solution, we were looking for a partner to implement it. Our goal was to find an experienced local partner in Lithuania, explains Vinted’s Senior Director of Finance Marija Buivydaitė.

– Staria’s local readiness and active approach impressed us. They were also developing NetSuite localization for Lithuania which helped with our partner choice. Because they were responsive from the start, we decided to partner with them, ads Buivydaitė.

Founded
2008

Industry
Second-hand fashion marketplace

Service solutions
NetSuite business platform, NetSuite localizations and INFlow inbound invoicing solution

Web page
https://www.vinted.com/

Marija Buivydaite Vinted

Vinted’s Senior Director of Finance, Marija Buivydaitė.

Risk management and process automation with custom scripts

Staria partnered with Vinted to implement the market leading NetSuite business platform alongside NetSuite SuiteApps developed by Staria. Vinted uses Staria SuiteApps including INFlow, a built-in AP automation solution for NetSuite, and NetSuite localization SuiteApps for Lithuania and Poland to enable business in the local markets. Staria developed the Lithuanian localization SuiteApp in close collaboration with Vinted’s specialists making sure the localization SuiteApp is a perfect fit to local market needs.

The collaboration between Vinted and Staria has become really close in the two years they have worked together. NetSuite Project Analyst at Vinted, Indrė Andruškevičiūtė, is happy with the co-operation.

– Staria is responsive and involved in developing solutions for our specific needs. In addition to the standard solutions we use, Staria has also developed custom scripts for us so that we can manage risks and further automate some of our processes, Andruškevičiūtė explains.

Vinted’s NetSuite Project Analyst Indrė Andruškevičiūtė.

Faster monthly financial reporting timelines with automations

Because Vinted is operational in many international markets, user-friendliness and efficiency are key when it comes to managing their finances and doing monthly financial reports.

– With NetSuite, our monthly financial reporting timelines have become faster. Nowadays, we only need to log into one ERP system instead of eight different ones like we used to. It makes the user-experience friendly, Buivydaitė says.

Overall, Vinted has been pleased with the solution they chose and with the collaboration they have with Staria. As they continue to grow, they will need even more support from Staria in the future.

– We are very happy that Staria is able to support us in our growing needs. We are recommending Staria to others as well, as Staria has greatly helped us in implementing NetSuite, Andruškevičiūtė concludes with a smile.

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Jimmy Lofstrom


Jimmy Löfström

International Growth Director

jimmy.lofstrom@staria.com
+46 73 376 5545

Jimmy Lofstrom

Jimmy Löfström
International Growth Director
jimmy.lofstrom@staria.com
+46 73 376 5545