Chrono24, a Karlsruhe, Germany-based digital marketplace for new and pre-owned luxury watches, secured more than 100M € ($118M+ USD) in Series C funding.
The round, which brought s cumulative funds raised to over €200M to date (approximately USD$236M), was led by General Atlantic, with participation from Aglaé Ventures, the technology arm of the Arnault family’s investment company and existing investors Insight Partners and Sprints Capital, as well as Felgner and Kniewasser.
This latest fundraise follows Chrono24’s 2019 Series B financing of 43M € from Sprints Capital, former Richemont director Gianni Serazzi, and YOOX-NET-A-PORTER founder Alberto Grignolo, among others, as well as the company’s 37M € Series A from Insight Partners in 2015.
The company intends to use the funds to
- continue to scale internationally and deepen its presence in existing markets,
- enhance its user experience, and
- augment its global team with additional talent.
Launched in 2003 and led by founder and Co-CEO Tim Stracke, Co-CEO Holger Felgner; and CFO Stephan Kniewasser, Chrono24 provides a global digital marketplace for new and pre-owned luxury watches. With approximately 500,000 watches from more than 3,000 retailers from over 100 countries and more than 30,000 private sellers, the portal reaches over 9 million unique visitors per month. With a global offering of new, used and vintage watches combined, Chrono24 offers an extensive service portfolio, allowing buyers and sellers to complete their transactions in a trusted environment. The worldwide support team provides assistance by mail or telephone in 15 different languages. The company employs almost 400 people in offices in Karlsruhe, Berlin, New York and Hong Kong.
FinSMEs
11/08/2021