A PLATFORM for photographers and videographers to trade equipment has raised £2.1 million in Series A funding.

Brighton based MPB will use to investment to expand into America and is looking to open an office in Manhattan in July.

The funding was led by Mobeus Equity Partners, a London-based Private Equity firm.

MPB, ranked in the 2015 Sunday Times Hiscox Tech Track 100, is also looking to expand into Germany.

Chief executive Matt Barker, created the company in 2008 with a graduate loan, with an aim to give photographers a better alternative to peer-to-peer transactions.

The company has since developed a unique, custom-designed technology that enables MPB to sit in the middle of all transactions, ensuring fully accurate pricing and removing all risks for all buyers and sellers.

The innovative approach has led MPB to become the largest online marketplace for photographers and videographers in the UK to buy, sell and exchange camera equipment.

It has a current revenue run rate of more than £10 million and is looking to grow its revenue to over £50 million over the next two years on the back of this Series A funding.

Matt said: "Online marketplaces continue to evolve and MPB has always been firmly positioned at the front of the pack. We believe that marketplaces should have accurate pricing that reflects supply and demand, and that all transactions should be supported from end to end to ensure the best possible customer experience. 

"We are proud to be bringing Mobeus on board and we look forward to working closely together to grow MPB internationally." 

MPB offers both buy and sell services through the same platform and deal directly with all users.

The platform technology ensures pricing is always optimal, creating high sell-through rate and zero stock risk.

Privately owned by economics graduate Matt, it currently employs 40 people in Brighton.

In the most recent financial year, the platform processed 25,000 products worth £8.4 million and is currently generating in excess of £2 million of quotes every month for users in the UK.