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Mobeus exit run continues with 7.8x MM on partial realisation of MPB

Mobeus investee MPB, the world’s largest reseller of photo and video equipment, has attracted a £49.8m Series D round led by Vitruvian, just five years after Mobeus led its £2m Series A.

  • As part of the round, Mobeus has partially exited its investment, achieving a 7.8x Money Multiple on shares sold and has locked-in an overall cash return of 0.9x to date. 
  • Moreover, Mobeus retains a significant 14% shareholding alongside new investors Vitruvian and other existing funds.
  • Backing the business throughout its growth journey to date, Mobeus invested in its Series A, B and C rounds. 
  • This marks Mobeus’s eleventh realisation* of the last 18 months at an average MoC of 3.6x

MPB, the world’s largest reseller of photo and video kit, has raised £49.8 million in its latest funding round, led by Vitruvian Partners with participation from current investor Acton Capital, joining existing investors Mobeus Equity Partners, Beringea and FJ Labs. 

Founded in Brighton in 2011, MPB is a standout driver of the creator economy grounded in a business model of circularity that delivers both economic and environmental sustainability. Recirculating 300,000 items of kit globally each year, MPB has transformed access to photo and video kit by offering a technology-based, customer-centric service that removes the risk and uncertainty attached to using many of its competitors. 

The used kit market is in a period of significant expansion as more consumers purchase sustainably in the circular economy. With established locations in the UK, US and Germany, MPB is well-positioned to take advantage of this growing trend. The new wave of funding will allow the company to focus on new product developments and technology that broaden the ways in which people can access kit, and bolster existing operations to bring more kit to more people. 

Vitruvian Partners, which has previously invested in successful circular companies including Vestiaire Collective as well as household names Carwow, Just Eat, Farfetch, Skyscanner and Trustpilot, becomes MPB’s largest shareholder and is supported in this round by existing investor Acton Capital. 

* In 18 months since 1st October 2019, Mobeus has fully exited eight investments and partially realised value from three investments following: the AIM flotation of two investments, in both of which it continues to hold a substantial shareholding; and the partial sale described in this press release.
 

06 April 2021

“This funding round is a major milestone for MPB culminating a decade of strong performance and a vision to make great kit accessible and affordable. With the backing of Vitruvian Partners and those reinvesting in our business we can accelerate our US and European growth strategy at scale, profitably. Photography and videography are intrinsic to societies and cultures all over the world, and at MPB we have created a circular model that offers everyone the chance to be visual storytellers and content creators in a way that’s good for the planet.”

Matt Barker, Founder and CEO, MPB 

Sector

Online

06 April 2021

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