Vinted, ElevenLabs, Iceye: Inside Europe’s hottest secondary sales

2026-03-13 · Source: Sifted · Field: Finance & Economics — Capital Markets & Investment Management, Corporate Finance & Treasury · Depth: Intermediate, short

Summary

Secondary market trading in Europe's private tech sector is experiencing a significant boom, with companies like Vinted, ElevenLabs, and Iceye seeing substantial activity. This trend allows venture capitalists to deliver returns to Limited Partners and provides liquidity for founders and early employees. Vinted, a Lithuanian online marketplace, has seen its valuation increase to $4.5 billion, with secondary sales reaching up to 15% of its shares. Similarly, ElevenLabs, an AI voice technology startup, has facilitated secondary transactions totaling around $4 million, while Iceye, a Finnish satellite imaging company, has also engaged in significant secondary deals, including a $138 million round. The market is also seeing increased interest in AI-native companies, with investors actively seeking opportunities in this rapidly growing sector.

Key takeaway

For investors evaluating European tech startups, understanding the secondary market's role is critical. This market provides a pathway for early investors and founders to realize returns, influencing company valuations and future funding rounds. Your due diligence should include assessing a company's secondary market activity as an indicator of investor confidence and liquidity potential, especially for high-growth AI-native firms. This trend suggests a maturing private market ecosystem.

Key insights

Secondary sales are a crucial liquidity mechanism for European private tech companies and their investors.

Principles

• Secondary markets provide essential liquidity for VCs and founders.
• High-growth tech companies attract significant secondary market interest.

In practice

• Explore secondary sales for early employee and founder liquidity.
• Consider secondary markets for VC fund returns to LPs.

Topics

• Secondary Sales
• Venture Capital
• AI Startups
• Company Valuation
• European Tech Market

Best for: Investor, Entrepreneur, CTO

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Editorial summary, takeaway, and curation by AIssential. Original article published by Sifted.