We have advised the world’s largest reseller of photo and video kit, MPB, on its latest funding round, raising £49.8 million to fuel further international expansion into the US and European markets and accelerate new product development for content creators.
The funding was led by Vitruvian Partners with participation from current investor Acton Capital, joining existing investors Mobeus Equity Partners, Beringea and FJ Labs.
Recirculating 300,000 items of kit globally each year, MPB has transformed access to photo and video kit by offering a technology-based, customer-centric service.
The new funding will allow MPB to focus on new product developments and technology that broaden the ways in which people can access kit, and bolster existing operations to bring more kit to more people.
Commenting on the deal, Corporate Technology partner Howard Palmer, said: "The used kit market is in a period of significant expansion and this funding round is perfectly timed to continue MPB growth. We support MPB and its vision to make great kit accessible and affordable, and it's been great to see its journey so far."
Matt Barker, CEO of MPB, said: "This latest funding round is a major milestone for us, and will accelerate our international development. Howard and the team at Taylor Wessing delivered exceptional support and strategic legal advice throughout the entire process and were key to the success of the deal."
The team was led by Corporate Technology partner Howard Palmer and associate Elinor Picton, with support from associate Nicola Caton and Tax senior associate Katie Lewis.
