Verdane investiert in Recommerce-Unternehmen momox
The recommerce market leader momox has attracted a considerable investment from private equity fund Verdane Capital IX (Verdane). Verdane joins momox as a new shareholder by way of capital increase and acquisition of shares from momox founder Christian Wegner. All previous shareholders including momox founder Christian Wegner and Acton Capital will continue as shareholders. ACXIT Capital Partners acted as exclusive financial advisor.
The online platform, which began in 2004, purchases used books, media and clothing via momox.de and apps, quality controls the acquired items and then sells them via its online shops medimops.de, momox-shop.fr (media) and ubup.com (fashion) as well as via various online marketplaces. Since starting with books and media, momox added second-hand fashion as a core category in 2014. In 2017, the fashion segment sales exceeded 25 million Euro. This year, the annual growth rate in the fashion segment has already surpassed 70 percent. This makes momox the largest and most profitable recommerce company globally. In 2018 momox expects a turnover of 200 million Euro.
Heiner Kroke, CEO of momox, said, „With Verdane as an investor, we have gained a leading and experienced partner in the consumer and fashion sector with a deep focus on e-commerce, as well as a new shareholder with broad governance experience. We are very excited about working together with Verdane.“
Verdane invests in fast-growing consumer internet, software, energy or high-technology industry companies in Northern Europe. Since 2003, Verdane funds have invested in over 300 companies, helping companies accelerate and sustain growth by leveraging Verdane’s unrivalled technology capabilities and proven track record in driving business value.
Staffan Mörndal, Partner at Verdane, said, „We are very pleased to be able to support momox on its continued growth journey with our expertise in fashion e-commerce. Sustainability and environmental awareness are rapidly growing trends of our time and have led to a boom in online trading in used articles. The strategy and vision of momox have convinced us that the company is able to meet the specific logistics challenges that a business of its kind faces.“
The investment is conditional upon approval from antitrust authorities.