£5million boost for used dealer MPB
Buying and selling used cameras will be even more slick in the future as British dealer MPB has attracted a huge five million pound injection from two major investors, Mobeus Equity Partners and Beringea.
Internet-based firm mpb.com has been a huge success since its launch in 2011 by taking the worry out of buying or selling used photographic and video kit, a key concern when using online auction sites or classifieds. On the firm’s website mpb.com, the kit is listed correctly and its condition expertly graded, and prices are updated automatically reflecting current supply and demand – keeping prices competitive.
This fuss-free way to trade used kit has been a massive hit, with more than 6000 transactions per month. Since June 2016, mpb.com has grown from 28 people to a team of 90, with offices in Brighton and New York.
The investment will largely be used to increase the Brighton-based firm’s operations in the USA as well as expanding into Germany.
Beringea helped used wristwatch dealer Watchfinder grow, and hopes to do the same for mpb.com. Beringea’s Eyal Malinger said: “Buying expensive equipment via online auction sites or classified ad boards is fraught with risk. It’s hard to know whether you’re getting the right thing at the right price. mpb.com’s technology is making these concerns a thing of the past for professional photographers and hobbyists alike.”
For more information visit the MPB website.