Growth capital for leading online buy-back service
Berlin/Munich, 2 December 2010. – Momox GmbH, the leading online buyback service for media products, announced today that it has secured growth financing from Acton Capital Partners. The Munich based VC firm will invest several million EUR for a minority stake in the Berlin-based company. Momox marks the fourth investment of Acton’s Heureka growth fund. The terms of the deal were not disclosed.
Momox was founded in 2006 by Christian Wegner, who has been trading in second-hand media products over the internet since 2003. At that time the selfmade entrepreneur operated the business from his apartment. Today the company has grown to approximately 150 employees and is turning over more than EUR 20 million annually with the trading of second-hand books, CDs, DVDs, computer and console games. In November 2010, Momox commenced operations in its new 8,000 square metre logistics centre. For the customer the sales process is very straightforward: enter the barcode number of the book, CD, DVD or game online and receive an immediate purchase offer from Momox. The seller then sends the items to Momox without any delivery charges. Momox will pay the consumer once the items are received. Because Momox is so simple and easy to use, more and more private sellers are switching over to Momox from eBay and other sites to clean out their attics.
“In Acton we have found a partner who has extensive e-commerce experience,“ explains Christian Wegner, founder and CEO of Momox. “The cash injection along with Acton’s experience and network will allow us to ramp up Momox even more quickly.“
"We are very pleased with Momox’ development, which we have been able to see at first hand since our initial entry at the start of 2009. With the commitment of a renowned growth investor such as Acton Capital Partners, Momox is optimally positioned to further expand its market leadership," say business angels Christoph Janz and Mark Gazecki.
”Momox is not only a pioneer, but also the clear leader in its segment,“ according to Christoph Braun, Managing Partner of Acton. „Christian Wegner has established an impressive company, and we are excited that we can now jointly support Momox in becoming a European success story.“
About Momox GmbH:
Momox (http://www.momox.de ) is the leading online buy-back service for books, CDs, DVDs, computer and console games in Germany. Since 2006 a total of more than 8 million secondhand media products have been purchased. At http://www.momox.de book, CD, DVD and game collections can be turned into money with little effort.
About Acton Capital Partners GmbH:
Acton Capital Partners (www.actoncapital.de) is an independent, partner-led growth investor in the internet and mobile communications sector. The investment focus of Acton’s Heureka Growth Fund, established in 2008, is consumer-oriented business models in media, e-commerce and online marketplaces. Acton invests worldwide, with Europe as its main focus. Funding comes from international private and institutional investors. The growth equity investor’s current portfolio includes Momox, Hamburg-based online streetwear retailer frontlineshop, mytheresa.com, an international online retailer of luxury women’s fashion and accessories, as well as Glasses Direct, a British online prescription glasses retailer. In addition, Acton manages a portfolio of 15 internet-based companies that make up the BDV fund, now closed to new investments.
Munich-based Acton Capital Partners was founded in 2008 by Christoph Braun, Paul-Bernhard Kallen, Jan-Gisbert Schultze and Frank Seehaus. Before establishing their own independent business, the four partners worked successfully together for many years at the Hubert Burda Media group. From 1999 onward, they acquired stakes for Burda Digital Ventures GmbH in over 40 internet-related businesses, which they managed with great success. The highest profile names on the list of successes include AbeBooks, Alando, ciao.com, HolidayCheck, OnVista and zooplus.
Media Enquiries to Acton:
Seipp Kommunikationsberatung
Anja Seipp
Tel. :+49 (0) 89 / 2 42 18 87-22
E-mail: press@actoncapital.de
