Vinted
“Can a C2C resale marketplace internalize its payments stack and become a regulated fintech in its own right while preserving a long-term partnership with the marketplace-payments incumbent that helped it scale?”
Founded in 2008 as a Lithuanian C2C resale marketplace, Vinted historically relied on Mangopay as its sole wallet and payout backbone across Europe. The strategic pivot came in 2023 with the launch of Vinted Pay — its own EMI-licensed payments business — moving toward an in-house wallet and payments stack to capture margin and gain operational control. Rather than rip-and-replace Mangopay, Vinted has adopted a hybrid model: Vinted Pay operates the regulated wallet in select markets while Mangopay continues to provide payment processing and payout rails in others. The 2026 UK FCA EMI license extends this fintech-in-marketplace strategy beyond the EU.