Brighton-based MPB is a scale-up transforming how photographers and videographers buy and sell photography and filmmaking gear, offering a curated, verified marketplace for second-hand equipment.
Founded in 2011, MPB has raised a €10 million Series C funding round led by growth VC firm Acton Capital, with participation from existing investors Mobeus and Beringea.
Thanks to data-driven automatization of the vetting process, and a transparent pricing strategy reflecting supply and demand, MPB users can instantly sell their gear for cash or trade for other items in a single transaction. This end-to-end customer experience has enabled the MPB platform to build a fast-growing community of more than 135k active users.
“There are over 20 million photographers and filmmakers who are our potential users, in Europe and the US alone,” said Matt Barker, Founder and CEO of MPB. “These photographers look for the perfect bit of kit, but face a highly fragmented market which lacks transparency and trust in sellers. MPB offers them an innovative platform to buy and sell second-hand gear in a single transaction. In the near future, further developments will see MPB blurring the lines between ownership and rental.”
Based on thousands of data points generated on the platform every day, MPB’s technology ensures that all items are correctly priced. With headquarters in Brighton and an operational site in East Sussex, MPB is already active 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,” said Matt Barker, founder and CEO of MPB. “We intend on becoming the leading global platform for photographers and filmmakers to trade professional equipment.”
“Fueled by online marketplaces, the re-commerce industry is on the rise,” said Sebastian Wossagk, managing partner at Acton Capital. “MPB’s customers can buy and sell second-hand photo gear in one single transaction. Thanks to data-driven pricing and customer centric end-to-end service, we believe MPB’s platform is able to unlock the potential of reselling even a high-end product on international level.”
Coupling correct pricing with detailed, accurate and nuanced descriptions ensures that any user looking for that next bit of kit can easily choose the right tool for the job, knowing that the item will be precisely as described and with the comfort that they have paid the correct price. Further, sellers are guaranteed a correct price for their kit when selling and can sell any number of items in one single transaction with guaranteed instant payment.
“The market for professional photo gear has grown in each of the past two years thanks to significant technological developments such as mirrorless cameras,” said Matt Barker, founder and CEO of MPB. “MPB is capitalizing on this trend by enabling professionals and enthusiasts to access the latest kit in a far more affordable way.”
“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,” said Eyal Malinger, Investment Director at Beringea. “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.”