Acton sells stake in Momox to Verdane

Acton previously owned a 29.5% stake in Momox, having initially invested in 2010, and the deal marks the first time that Acton has sold any of its shares in the business.

Acton invested in the company via its first vehicle Heureka Growth Fund, which held a final close in May 2010 on €150m. Momox will be the fourth investment from the fund to be fully realised, according to Unquote Data. The fund's portfolio companies also included online fashion retailer Mytheresa.com.

Verdane acquired a majority stake in Momox in October 2019 via its Verdane Capital X vehicle, having initially acquired a minority stake in September 2018. The fund held a final close in January 2019 on its hard-cap of SEK 6bn.

Verdane plans to support Momox's international expansion, as well as to expand its fashion segment sales. The GP anticipates growth from more environmentally conscious consumers, as well as due to consumers having tighter personal budgets in the wake of the coronavirus crisis.

Verdane financed the acquisition of its latest stake in Momox in full via a green bond, based on Momox's Green Bond Framework developed in partnership with ABG Sundal Collier.

Previous funding
Acton first invested in Momox in October 2010.

In 2014, Point Nine Capital, RI Digital Ventures and German Media Pool backed a funding round for the company.

In September 2018, Verdane bought a minority stake in Momox. In April 2019, Verdane increased its stake in the business, acquiring German Media Pool's shares.

Company
Founded in 2004, Momox is an e-commerce platform that allows uses to sell pre-owned items via eBay in Germany, as well as through Amazon on a worldwide basis. The company focuses on selling books, media and fashion.

Momox reported sales of €196m in 2018 and EBIT of €13.73m, compared with €250m in revenues in 2019. The company's fashion sales increased by 61% in 2019. Momox employs 1,900 people and is active in six locations.

People
Acton Capital – Christoph Braun (managing partner).
Verdane – Staffan Mörndal (partner, head of consumer internet).
Momox – Heiner Kroke (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Expansion
• DACH
• Technology
• Germany
• Verdane Capital Partners