Verdane increases its share in momox through transaction with German Media Pool
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.