Founded in 2004, momox offers a sustainable reuse platform available in Germany, Austria, France, and the United Kingdom for consumers looking for a fast and easy way to sell their books, CDs, DVDs, videogames and clothes online for cash without auctions. Verdaneโs ambition is to support the further grow of momox into the European marketplace for sustainable reuse of fashion, second hand media and books. In 2018, revenues grew to EUR 200 million, fuelled by rapid expansion of its fashion segment and increases in market share outside of Germany.
โThe sustainable reuse sector will continue to grow, driven by sustainability, the sharing economy and upcycling trends. momox has built a strong brand with clear leadership in its niche, with a strong position to develop into a substantially larger and stronger European market leader with an expanded product assortment and geographic presence. Itโs an investment in a more resource-efficient future for the European consumer,โ said Staffan Mรถrndal, Partner and Co-Head of e-Commerce at Verdane Capital Advisors.
Momox entered into a strategic media for equity deal with German Media Pool, Germanyโs leading independent media for equity investor, in 2015 to drive growth and brand building through premium television and out-of-home media spots. The media for equity investment model has been used for many years to support the growth of venture-backed companies in several European countries, especially in Germany and Sweden.
โWe are sad to leave our own momox chapter behind us, but are delighted that momox will continue its growth journey together with an investor that shares our passion for e-commerce and building sustainable European champions. We could not have found a better partner than Verdane,โ said Niko Waesche, Co-Founder and Managing Partner at German Media Pool.
AlphaPet, a fast-growing, leading premium pets food company as well as Tiger Facility Services, a European digital facility services platform, were amongst the companies additionally included in the transaction. The new portfolio companies join Verdaneโs roster of over 100 investments in consumer internet and software businesses made since 2003. Further portfolio holdings may still be sold to Verdane by German Media Pool as part of the new partnership between the two funds.
About German Media Pool
German Media Pool (GMPVC) is Germanyโs leading independent media for equity investor, connecting premium media groups to high growth ecommerce and consumer companies. Among its media partners are TV, out of home, radio and print groups such as RTL II, Plakatunion and REGIOCAST. The Berlin-based team has invested more than โฌ 175 million in gross media volume in more than 50 investment rounds into 26 startups. German Media Poolโs portfolio includes ABOUT YOU, FRIDAY, momox, AlphaPet, Tiger Facility Services, Clark, Marley Spoon, Lemonswan , Baby Sweets and URBANARA. More information about German Media Pool can be found on www.gmpvc.com
About momox
momox is Germanyโs leading online recommerce platform for books, CDs, DVDs, computer/video games and clothing, providing a fast and easy way to sell and purchase pre-owned consumer goods. The Berlin-based startup has launched its online trade-in service www.momox.de and its app where consumers can sell their products at fixed prices and free of shipping costs. The company resells purchased goods on www.medimops.de (books, CDs, DVDs, computer/video games) and www.ubup.com (clothing), where consumers can save up to 70% compared to retail prices. Founded in 2004 as Germanyโs first recommerce platform for pre-owned items, the company has grown to more than 1,300 employees at three sites. momox also offers its service in the United Kingdom, France and Austria. Since May 2006 momox has purchased more than 190 Million items. Today momox is the biggest vendor for used goods on amazon and eBay in Germany, and the biggest vendor on amazon worldwide.
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over โฌ6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdaneโs team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo, and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com โฏ
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Press Contact
Verdane Press Office
press@verdane.com
+46 76 27 28 100
Niko Waesche, Co-Founder and Managing Partner
German Media Pool
nw@gmpvc.com
+49 178 260 26 00