Vinted, our largest Fund II position, continues to move from strength to strength, accelerating through €10B GMV and €1B revenue in 2025 while highly profitable — and the U.S. is next! FJ Labs and OLX alum Thomas Plantenga has flawlessly executed for years. (LinkedIn)

Marble Health raised a $15.5M Series A led to continue scaling school-embedded mental healthcare. Since launching last year, Marble has already facilitated over 15,000 therapy sessions for children who may otherwise not have received care. (TechFundingNews)

Fintech Yendo, creator of the first vehicle-secured credit card, raised a $50M Series B to accelerate its expansion. By unlocking $4T of trapped equity from cars and homes, the company provides access to credit products typically reserved for super-prime customers. (BusinessWire)

European refurbished electronics marketplace, Refurbed, raised €50M to support further geographic expansion, this time focused on the UK. Founded in 2017, Refurbed continues to compound growth, is profitable, and GMV approached €1B in 2025. (eCommerceNews)

Transparency Analytics, a startup offering real-time feedback on the creditworthiness of various debt structures to lenders, completed its second funding round led by Deciens Capital. (FintechTimes)

Juo, a Warsaw-based startup building technology for scaling subscriptions based on physical products, raised €4M in seed funding to expand its capabilities, led by Market One Capital. (EuStartups)

Danske Bank hosted a recorded event with Fabrice where he discusses the impact of AI on marketplaces, emerging marketplace trends,  and his concerns about an AI bubble. A full recording and slides used in Fabrice’s presentation can be found here.

Fabrice enjoyed a wide-ranging conversation with Enzo Cavalie, founder of Startupable, the most listened-to startup podcast in Spanish, where he discusses the impact of AI on marketplaces, the trillion-dollar opportunity in B2B digitization, and more.

At Abu Dhabi Finance Week, Jose took the stage to discuss the “unicorn formula” and what it really takes to back a billion-dollar company. As one of the most active early-stage investors globally, Jose shared the signals we at FJ Labs have come to trust, from instinct to data, pricing, and patience.

Make sure to check out Fabrice on the VC10X podcast with host Prasant Choubey. They dive deep into Fabrice’s personal journey, from leaving McKinsey at 23 to chasing the entrepreneurial dream, to the “spaghetti on the wall” strategy of launching OLX in 100+ countries simultaneously.

FJ Labs partner Jeff Weinstein walks through the mechanics of evaluating 200+ startups each week at FJ Labs, what separates fundable companies from also-rans, and the way AI is reshaping both marketplace businesses and the venture industry itself on R136 Ventures’ recent podcast.

At this year’s FII Institute event in Riyadh, Jeff spoke on a Kauffman Fellows panel on the “Evolution of a VC firm” alongside GPs from Monashees & Deciens. The group dug into the key mindset shifts and structural changes required to scale a fund into a firm.

ICYMI, Fabrice shared his much-awaited annual holiday gadget guide for 2025. He made several upgrades to prior versions and also introduced many kid-centric gadgets, from wagons, to cargo bikes, to the best travel luggage.

Make sure to check out the first of Danny Brown & Camila Bustamante’s two-part deep dive into the next generation of asset-backed credit. They explore how ABC is beginning to scale like software, why this cycle is different, and what early winners are teaching us.

In the spirit of the holiday season, FJ Labs partnered with local NYC-based charity, City Harvest, a nonprofit dedicated to food rescue and hunger relief. The FJ team packed over 2,000 bags of fresh produce into family-sized portions for distribution to food pantries across the city.