Brighton, UK-based MPB Group, which operates a re-commerce platform for selling or trading high-end photography and filmmaking equipment such as cameras and lenses, has raised £9 million in Series C funding from German VC Acton Capital and prior backers Mobeus and Beringea.
MPB is wants to change how photographers and videographers access and sell second-hand photography and filmmaking gear, courtesy of a data-driven automatisation of the quality control process and a transparent pricing strategy.
The startup's platform allows its 135,000+ users to instantly sell their kits for cash, or trade gear against other items in one single transaction. And it's planning for more features and transparency down the line.
Says Matt Barker, founder and CEO of MPB: "There are over 20 million photographers and filmmakers who are our potential users, in Europe and the US alone. 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."
The fresh cash should allow MPB to build upon its existing infrastructure to support international growth (starting with the first MPB operational centre in Brooklyn, US), and to invest in engineering and further automation of processes on the platform.
The startup currently employs about 120 staff across the UK and the United States.