Exit: Acton Capital sells its shares in Europe’s re-commerce market leader momox to Verdane

by | July 2, 2020

Berlin/Munich, July 02, 2020 – After ten years as an investor in momox, Europe’s leading re-commerce company for used books, media items and second-hand fashion, Acton Capital is selling its shares to the majority shareholder Verdane Capital X, the Northern European specialist growth equity investor. All other shareholders, including momox’ CEO Heiner Kroke, will remain shareholders.

Founded in 2004 as Germany’s first re-commerce platform for pre-owned items in Berlin, the company has grown to more than 1,900 employees at six locations. With local websites in Germany, Austria, France and UK, momox is Europe’s largest re-commerce company with a turnover of EUR 250 million in 2019. The company distributes the purchased items via its own online shops, as well as via various online marketplaces. Since the launch in 2006, momox has purchased more than 220 million items and is the biggest vendor for used goods on Amazon worldwide (No.3 on eBay) today. Following a comprehensive quality control process, the second-hand goods find new homes among more than 8.3 million active buyers.

“Over the last ten years, momox has taken us on an exciting journey full of optimism and growth.”

Christoph Braun, Acton Capital

 

“When we became the first institutional investor in October 2010, the company still ran all its business activities from a small warehouse in Berlin. Under the leadership of Heiner Kroke, the company has developed into the leading re-commerce provider in Europe. We are very proud of what momox has achieved and wish the company all the best for the next chapter,” says Christoph Braun, Managing Partner at Acton Capital.

Verdane joined momox as an investor in the autumn of 2018, and became the majority shareholder at the end of 2019. With its acquisition of Acton Capital’s shares, the Northern European growth investor’s stake now stands at 85% ownership.

“We at Verdane are proud to deepen our partnership with momox as well as our commitment to a more resource-efficient future through this transaction, ” adds Staffan Mörndal, Partner and Head of Consumer Internet at Verdane.

momox has grasped better than any other company in Europe how user-friendly technology can give second-hand products a new life, and with its strong brand and circular business model we see momox becoming an even bigger European market leader.

Staffan Mörndal, Verdane

 

“We want to thank Acton Capital for an excellent and productive partnership together with the team at momox,” says Staffan Mörndal.

“Since Acton Capital’s entry momox has grown enormously. We would like to thank you for the great support and the trust you have placed in us over the past ten years. At the same time we are looking forward to continuing our close cooperation with Verdane, who has been with us for nearly two years now as an experienced partner in the consumer and fashion sector with a strong focus on e-commerce. We are looking forward to deepening our partnership even further in the future,” says Heiner Kroke, CEO of momox GmbH.

About momox
momox is Europe’s leading online re-commerce company for books, CDs, DVDs, computer/video games and clothing, providing a fast and easy way to sell and purchase pre-owned consumer goods. The Berlin-based company has launched its online trade-in service www.momox.de and its app where consumers can sell their products at fixed prices and free of shipping costs. The company resells purchased goods on medimops (books, CDs, DVDs, computer/video games) and Ubup (clothing), where consumers can save up to 70% compared to retail prices. Founded in 2004 as Germany’s first re-commerce company for pre-owned items, the company has grown to more than 1,900 employees at six sites. momox also offers its service in the United Kingdom, France, and Austria. Since the launch momox has purchased more than 220 million items.

About Verdane
Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €1.8bn in total commitments and have made over 120 investments in growth sectors including advanced industry, consumer internet, energy & resource efficiency and software.

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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