MPB secures £9m Series C to accelerate international expansion
Investment in leading tech platform for photo and film gear
MPB, a Mobeus portfolio company and Europe’s leading technology platform for trading high-end photography and filmmaking kits, raises growth capital to further expand in Europe and the US.
MPB has today announced a £9m Series C funding round, led by growth VC firm Acton Capital and participated in by existing investors Mobeus and Beringea.
Backing MPB throughout its growth journey, Mobeus has invested at each of the company’s series A, series B and series C rounds.
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 camera equipment. Thanks to data-driven automatisation 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. With its unique end-to-end customer experience, the tech platform has already secured a fast-growing community of more than 135,000 active users.
With headquarters in Brighton and an operational site in East Sussex, the start-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 further automation of processes and the engineering of the existing tech platform. With the new capital, MPB will open its first US operational centre in Brooklyn and are planning a German site to follow in 2020.
Jane Reoch, Investment Director at Mobeus, 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.”
11 July 2019
“There are over 20 million photographers and filmmakers who are our potential clients, in Europe and the US alone. These photographers look for the perfect equipment but face a highly fragmented market which lacks transparency and trust in sellers. MPB offers them an innovative platform to buy and sell curated second-hand gear in a single transaction. We are blurring the lines between ownership and rental.”
Matt Barker, Founder/CEO, MPB