Brighton, UK-based MPB is an online platform that specialises in used photography and videography equipment. The company claims to transform the way people buy, sell, and trade in photo and video kit. The platform is for everyone, whether you’ve just discovered your passion for visual storytelling or you’re already a pro.
In a recent development, the company announced that it has raised £49.8M (approx €58.38M) in a fresh round of funding.
Investors in this round
The round was led by Vitruvian Partners, which has now become MPB’s largest shareholder. The investor has previously invested in successful circular companies including Vestiaire Collective as well as household names Carwow, Just Eat, Farfetch, Skyscanner, and Trustpilot.
Tom Studd, Partner at Vitruvian Partners, the independent growth-focused private equity firm, says, “Matt and the team have achieved strong and profitable growth through recent launches in the US and Germany, and we’re delighted to partner with them for the next step of the journey.”
Besides, the round also saw participation from existing investors, Acton Capital, Mobeus Equity Partners (which had also invested in MPB’s Series A round has partially exited), Beringea, and FJ Labs.
Arma Partners acted as an exclusive financial adviser to MPB for this transaction, while Howard Palmer, Partner at Taylor Wessing, acted as the legal counsel.
The US and European expansion
Matt Barker, Founder & CEO of MPB, says, “This funding round is a major milestone for MPB culminating a decade of strong performance and a vision to make great kit accessible and affordable. With the backing of Vitruvian Partners and those reinvesting in our business, we can accelerate our US and European growth strategy at scale, profitably. Photography and videography are intrinsic to societies and cultures all over the world, and at MPB we have created a circular model that offers everyone the chance to be visual storytellers and content creators in a way that’s good for the planet.”
With established locations in the UK, US, and Germany, MPB says it is well-positioned to take advantage of this growing trend.
The raised capital will allow the company to focus on new product developments and technology that broaden the ways in which people can access kit, as well as accelerate existing operations to bring more kit to more people.
What exactly does MPB do?
Founded by Matt Barker in 2011, MPB aims to transform the way people buy, sell and trade used photo and video kit.
Currently recirculating 300,000 items of kit globally each year, MPB claims to have transformed access to photo and video kit by offering a technology-based, customer-centric service. The platform offers the right price for every piece of kit based on make, model, condition, and market, across a large selection of camera bodies, lenses, filters, and accessories.
The MPB team includes trained camera experts and seasoned photographers and videographers. It inspects every piece of kit carefully by its own product specialists and offers a six-month warranty. The MPB team includes trained camera experts and seasoned photographers and videographers.
The company aims to make the kit more accessible and affordable and help in visualising a more sustainable future.
Previously, MPB has raised multiple rounds of venture capital and private equity funding and is listed in The Sunday Times Tech Track 100.