Momox Raises Funds from Acton Capital Partners
Published On December 2, 2010 |
Momox GmbH, a Berlin, Germany-based online buyback service for media products, has received a “several million EUR” financing from Acton Capital Partners.
With the investment, which was made through its Heureka growth fund, Acton will acquire a minority stake in the company.
Founded in 2006 by Christian Wegner, Momox trades second-hand books, CDs, DVDs, computer and console games. Its sales process is easy: the customer enters the barcode number of the book, CD, DVD or game online and receive an immediate purchase offer from the service. The seller then sends the items to Momox without any delivery charges. Momox will pay the consumer once the items are received.
As stated by Christian Wegner, founder and CEO of the company, the capital will allow Momox to to further expand and ramp up the service “even more quickly”.
The company has grown to approximately 150 employees and is turning over more than €20m annually. In November 2010, Momox commenced operations in its new 8,000 square metre logistics centre.