Chronoexpert, a Bilbao, Spain-based online platform for buying and selling watches, raised €800k in funding.
The round was led by K Fund, a Spanish venture capital investment group created by Iñaki Arrola and Carina Szpilka, whose portfolio includes companies such as Coverfy, Shopery, Lucera and Billin, with participation from business angels, with a vast experience in investment banking.
The company intends to use the funds for product development, team strengthening, talent recruitment and national and international marketing campaigns.
Founded in in 2016 by a team with extensive digital experience led by Pablo Martín, Chronoexpert provides an online platform for buying and selling new & pre-owned luxury watches going through a multi-layered process of certification and verification.
Approximately 50% of the company’s sales come from international markets with Rolex, Cartier, Omega and Breitling being some of the brands with the highest demand.