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. Verdane’s 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.
“The 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. It’s an investment in a more resource-efficient future for the European consumer,” said Staffan Mörndal, Partner and Co-Head of e-Commerce at Verdane Capital Advisors.
Momox entered into a strategic media for equity deal with German Media Pool, Germany’s 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.
“We 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,” 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 Verdane’s 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.
Verdane funds provide flexible growth capital to fast-growing software, consumer internet, energy or high-technology industry businesses, through both majority and minority investments in individual companies and portfolios. Verdane funds act as ambitious, active and long-term owners, helping management teams and companies accelerate and sustain growth by leveraging the Verdane advisory team’s technology capabilities and proven track record in driving business value. Verdane funds’ current portfolio of German companies comprises Hornetsecurity, a cloud security solutions provider; momox, Germany’s leading re-commerce platform; Navabi, the global leader in online plus size fashion; SearchMetrics, an enterprise SEO and content marketing platform; and smava, a consumer loan marketplace. Verdane Advisory Group has 38 employees working out of offices in Copenhagen, Helsinki, London, Oslo and Stockholm. For more information, please visit www.verdane.com
About German Media Pool
German Media Pool (GMPVC) is Germany's 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 € 175 million in gross media volume in more than 50 investment rounds into 29 startups. German Media Pool’s investments include 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
momox is Germany’s 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 Germany’s 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.