Marketplace for photography and videography equipment snaps up £2.1m
Brighton-based MPB will use Series A investment to "go global" with an office in Manhattan and expansion in Germany
MPB, a site for trading high-end cameras and lenses, has closed a £2.1m funding round led by private equity firm Mobeus Equity Partners as it looks to drive global expansion.
Founded in 2008 by Matt Barker (pictured), featured here in our entrepreneur Q&A, Brighton-based MPB says it is the largest online marketplace for photographers and videographers in the UK to buy, sell and exchange camera equipment and has current revenue run rate of over £10m.
It intends to use the investment to expand its platform to the US market with an office in Manhattan, and also plans to target the German market.
The company’s aim is to achieve revenues of over £50m by 2018.
Barker commented on the round:
“Online marketplaces continue to evolve and MPB has always been firmly positioned at the front of the pack. We believe that marketplaces should have accurate pricing that reflects supply and demand, and that all transactions should be supported from end to end to ensure the best possible customer experience.
“We are proud to be bringing Mobeus on board and we look forward to working closely together to grow MPB internationally.”