Less than 18 months after closing its Series B, the firm has today announced its Series C funding round, led by growth VC firm Acton Capital and with participation from existing investors Mobeus and Beringea.
The Brighton-based scale-up’s platform offers the world’s largest curated and verified selection of second-hand photography and filmmaking equipment and has seen a 280 per cent growth over three years.
Using data, the firm allows its users to instantly sell their gear either for cash, or trade against other items in one single transaction, and has fostered a growing community of more than 135,000 active users.
With headquarters in Brighton and an operational site in East Sussex, the scale-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 engineering and further automation of processes on the platform.
“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,” sad Matt Barker, Founder and CEO of MPB.
“We intend on becoming the leading global platform for photographers and filmmakers to trade professional equipment.”
The investment round was led by Sebastian Wossagk, Managing Partner at Acton Capital Partners, Jane Reoch, Investment Director at Mobeus and
Eyal Malinger, Investment Director at Beringea, added: “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.”