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The UK's largest online marketplace for used photographic equipment

The Business

Launched in 2011, MPB is the UK’s largest dedicated online marketplace in used photographic equipment. Millions of new cameras, interchangeable lenses, and other equipment and accessories are sold each year. MPB’s proprietary technology manages the entire end-to-end experience for users buying, selling, or trading second-hand equipment. It automates the creation of listings for more than 4,000 different product types and dynamically updates prices based on supply and demand to provide users with superior transparency and consistency of product information, and to ensure they always receive competitive prices.

The Deal

Backing MPB throughout its growth journey, Mobeus has invested at each of the company’s series A, series B and series C rounds and remains its second largest institutional shareholder after a £50m Series D in 2021.

In 2016, we invested £2.1m of growth capital to support the business’s international expansion into the US and German markets. Management has delivered exceptional growth ever since, In 2018 we co-invested with Beringea in a £5m round and in July 2019, we participated in a £9m Series C round, led by growth VC firm Acton Capital, to provide this exciting business with the further capital to build on its commercial opportunity and first-mover advantage.

In 2021, MPB raised £49.8 million, led by Vitruvian Partners. 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.

The Plan

Since its Series A funding round, MPB has grown rapidly. The used kit market is in a period of significant expansion as more consumers purchase sustainably in the circular economy. Now with established locations in the UK, the US and Germany, MPB is well-positioned to take advantage of this growing trend. The company is focused 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. 

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“We’re helping photographers and filmmakers access a greater variety of equipment than ever before, with absolute confidence in the quality and value of the items they buy, so that they can make quick and easy changes to their kit bags. Transparency of information and consistency of pricing are critical to providing the best possible marketplace experience for customers, and we’re excited to be able to bring this experience to an even bigger market as we continue to grow with this new funding.”

Matt Barker

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