Launched in 2011, the Brighton-based company currently facilitates more than 6,000 transactions per month, and is on track to generate £22 million in turnover this year at a year-on-year growth rate of more than 60 per cent. Since its Series A funding round, led by Mobeus and completed in June 2016, mpb.com has grown from 28 people to a team of 90, with offices in Brighton and New York. Having already significantly grown its development and marketing teams, and launched in the US market, the company will use this latest funding primarily to scale up operations in the US and Germany. As part of the investment round, mpb.com has appointed a new chairman and CFO.
Jane Reoch, Investment Director at Mobeus, said: “We originally backed mpb.com in 2016, and management has delivered exceptional growth over the past two years. We are delighted to be co-investing with Beringea to provide this exciting business with the further capital to build on its commercial opportunity and first-mover advantage.”
Corporate partner Jonathan Leigh-Hunt led the Marriott Harrison team, comprising corporate associate David Bettis; corporate trainee Kerry Corrigan; employment associate Ed Belam and consultant Eesheta Shah.