International law firm CMS has advised leading growth venture capital firm Acton Capital as lead investor on the £9m Series C funding round for MPB Group Ltd. Existing investors Mobeus and Beringea also participated in the funding round.
Headquartered in Brighton, MPB is a scale-up transforming how photographers and videographers access and sell photography and filmmaking gear. The MPB platform offers the world’s largest curated and verified selection of second-hand equipment. It has a fast-growing community of more than 135,000 active users, with core markets in the UK, USA and Germany. The fresh funding will allow MPB to extend existing infrastructure to support international growth as well as investing in engineering and further automation of processes on the platform.
London partner Mark Bertram led the CMS team, supported by associate Toby Lovett.
Sebastian Wossagk, Managing Partner of Acton Capital, comments: “Fuelled by online marketplaces, the re-commerce industry is on the rise. MPB’s customers can buy and sell second-hand photo gear in one single transaction. Thanks to data-driven pricing and customer centric end-to-end service, we believe MPB’s platform is able to unlock the potential of reselling even a complex high-end product on international level.”
He adds: “We’d like to thank CMS for their timely and strategic advice on this investment. The team’s longstanding experience in VC investments and deep tech know-how were evident throughout the transaction."
CMS has a long and consistent track record advising on early stage deals and was recently awarded Best Legal Team for Early Stage Deals at the UKBAA Angel Investment Awards 2019.