UK photo and film equipment marketplace raises €10m

UK photo and film equipment marketplace raises €10m

UK start-up MPB announced today (15 July) that it has closed a £9m Series C funding round, led by growth venture capital firm Acton Capital, and with participation from existing investors Mobeus and Beringea.

MPB is a platform for trading and selling high-end photography and filmmaking kits. Less than 18 months ago it closed its Series B funding round.

CEO Matt Barker expects more success in the future. “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.”

Eyal Malinger, investment director at Beringea, said: “MPB’s growth since Beringea first invested in 2017 has been significant, with immediate and substantial traction in new markets in the US and Germany.

“Our continued support of the business, along with the new investment from Acton, is testament to the potential of the business to become a lasting success on both sides of the Atlantic, and it will kick off an important chapter of accelerating growth.”

Jane Reoch, investment director at Mobeus Equity Partners, acknowledged the 280pc growth MPB has witnessed over the last few years, adding: “The re-commerce model continues to prove hugely successful with customers who enjoy both economic and environmental benefits of reuse. We are excited to back MPB’s high-performing team in the next stage of growth and to welcome Acton to the board.”

With 135,000 active users, MPB offers a selection of verified second-hand equipment to photographers and videographers around the world.  The site claims it ensures that the pricing accurately reflects the value of the 4,500 products featured on the site, by using data points generated on the platform every day.

With headquarters in Brighton and an operational site in East Sussex, the company is already active in the UK, the US and Germany.

Baker said: “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.”

MPB also announced plans to use the funding to invest in engineering and further automation of processes on the platform. The company currently employs 120 people across the UK and the US.

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