MPB snaps £50m Series D funding for second-hand cameras
MPB, the world’s largest reseller of photo and video kit, has raised £49.8m Series D funding, led by Vitruvian Partners alongside existing investors Acton Capital, Mobeus Equity Partners, Beringea and FJ Labs. Brighton-based MPB resells 300,000 pieces of kit globally each year.
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Brighton-based MPB snaps up $69M to build out its used camera equipment marketplace yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
MPB raises nearly £50 million to expand
April 6, 2021
Used camera and lens retailer MPB 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.
“The used kit market is in a period of significant expansion as more consumers purchase sustainably in the circular economy,” said MPB. “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.”
Partial Realisation of investment in MPB Group Limited
The Company is pleased to announce the partial disposal of its equity investment in MPB Group Limited ( MPB ) on 31 March 2021, as part of a £49.8m primary and secondary funding round led by Vitruvian Capital Partners LLP ( Vitruvian ), which includes additional capital to fund MPB s further expansion. The Company has received net proceeds of £1.62 million from the partial sale (c. 25%) of its equity investment and generated a 7.8x return on the cost of the shares sold. These proceeds bring total proceeds received to date to 91% of the VCT s total amount invested in MPB.
Brighton-based MPB snaps up $69M to build out its used camera equipment marketplace – TechCrunch techcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcrunch.com Daily Mail and Mail on Sunday newspapers.