Based in Brighton, MPB was founded by Matt Barker in 2008. The business has developed a custom-designed technology that provides a more efficient and enjoyable way of selling and buying used camera equipment and is now the UK’s largest online marketplace to sell, buy or exchange camera equipment.
MPB which was launched with a £10,000 graduate loan in 2008, has delivered consistent revenue growth every year since inception, with sales reaching £8.4m for FY16 and employing 40 employees. MPB attracted 2.7 million visitors to its site last year and has been ranked in the 2015 Sunday Times Hiscox Tech Track 100.
The £2.1 million invested by Mobeus will support the business’s international expansion into the US and German markets.
HMT undertook due diligence on this transaction.
Greg Blin, Investment Director at Mobeus commented
“HMT quickly gained a detailed understanding of the business and delivered a clear and concise report in a short time frame. We are grateful to their professionalism and expertise that helped us complete the deal.”
Paul Read commented,
“We are delighted to have advised Mobeus on their investment in MPB. With the rapid development of online retail and Mobeus’ support, MPB is in strong position to continue its amazing growth. We wish the business every success and look forward to working with them again in the future.”