Acton Capital leads Series C in MPB to accelerate international expansion

by | July 15, 2019

Brighton/Munich, July 15, 2019 – MPB, Europe’s leading technology platform for trading high-end photography and filmmaking kits, raises growth capital to further expand in Europe and the US. Less than 18 months after closing its Series B, MPB has today announced a £9m Series C funding round, led by growth VC firm Acton Capital and with participation from existing investors Mobeus and Beringea.

MPB is a scale-up transforming how photographers and videographers access and sell photography and filmmaking gear. The MPB platform offers the world’s largest curated and verified selection of second-hand equipment. Thanks to data-driven automatization of the vetting process and a transparent pricing strategy reflecting supply and demand, MPB users can instantly sell their gear either for cash, or trade against other items in one single transaction. This unique end-to-end customer experience has enabled the MPB platform to build a fast-growing community of more than 135,000 active users.

Matt Barker, Founder and CEO of MPB, commented: “There are over 20 million photographers and filmmakers who are our potential users, in Europe and the US alone.  These photographers look for the perfect bit of kit, but face a highly fragmented market which lacks transparency and trust in sellers. MPB offers them an innovative platform to buy and sell second-hand gear in a single transaction.”

“In the near future, further developments will see MPB blurring the lines between ownership and rental.”

– Matt Barker, Founder and CEO of MPB

Based on thousands of data points generated on the platform every day, MPB’s innovative technology ensures that all items of kit, across 4,500 different models, are correctly priced. With headquarters in Brighton and an operational site in East Sussex, the scale-up is already active in three core markets in the UK, USA and Germany. The fresh funding will allow MPB to extend existing infrastructure to support international growth as well as investing in engineering and further automation of processes on the platform. Matt Barker, Founder and CEO of MPB, commented: “With the new capital, we will open the first MPB operational centre in Brooklyn, US and are planning a German site to follow in 2020. We intend on becoming the leading global platform for photographers and filmmakers to trade professional equipment.”

“Fueled by online marketplaces, the re-commerce industry is on the rise. MPB’s customers can buy and sell second-hand photo gear in one single transaction.”

“Thanks to data-driven pricing and customer centric end-to-end service, we believe MPB’s platform is able to unlock the potential of reselling even a high-end product on international level”, says Sebastian Wossagk, Managing Partner at Acton Capital.

Coupling correct pricing with detailed, accurate and nuanced descriptions ensures that any user looking for that next bit of kit can easily choose the right tool for the job, knowing that the item will be precisely as described and with the comfort that they have paid the correct price. Further, sellers are guaranteed a correct price for their kit when selling and can sell any number of items in one single transaction with guaranteed instant payment.
Matt Barker, Founder and CEO of MPB, commented: “The market for professional photo gear has grown in each of the past two years thanks to significant technological developments such as mirrorless cameras. MPB is capitalising on this trend by enabling professionals and enthusiasts to access the latest kit in a far more affordable way.”

Jane Reoch, Investment Director at Mobeus Equity Partners, commented: “MPB has achieved remarkable growth of 280% over three years. The re-commerce model continues to prove hugely successful with customers who enjoy both economic and environmental benefits of re-use. We are excited to back MPB’s high performing team in the next stage of growth and to welcome Acton to the Board.”

About MPB
MPB employs 120 staff across the UK & US. MPB is headquartered in Brighton, UK, with offices also in New York, US and a German office to open in 2020. The MPB platform currently has 135,000 active customers spread across the UK, Germany & the US. Learn more at mpb.com

Über Acton Capital Partners

Acton Capital Partners ist ein internationaler Wachstumsinvestor mit Sitz in München. Seit 1999 investiert das Acton-Team erfolgreich in digitale Pioniere in Europa und Nordamerika.

Investmentfokus liegt dabei auf skalierbaren Geschäftsmodellen aus den Bereichen Future of Work, Digitale Marktplätze und Plattformen, Ecommerce, FinTech sowie Software-as-a-Service.

Bettina Engert Administrator
Director Communications , Acton Capital

 

About Acton Capital
Acton Capital is a leading growth venture capital investor in Europe. Since 1999, the Acton team supports digital startups in the fields of marketplaces, e-commerce, SaaS, FinTech or Future of Work on their way to market leadership. Acton Capital invests worldwide with strong focus on Europe and North America. With two decades of investment experience and a deep understanding of tech-enabled business models, the team has invested over EUR 500+ million across five fund generations.

 

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