Chrono24, the global digital marketplace for new and pre-owned luxury watches, has secured more than 100 million euros (118 million US dollars) in Series C investment. Insight Partners, Sprints Capital and other existing investors joined them.
This newest minority growth funding brings Chrono24’s cumulative funds raised to over 200 million euros to date, approximately 236 million US dollars. “We are the pioneers of the digital marketplace concept in luxury watches. Our platform not only encourages and supports evolving consumer behavior but also gives an industry that is used to disruption invaluable proof of concept, ” says the marketplace representative. “We are very pleased that General Atlantic and Aglae Ventures recognise the vast market potential lying in the digital evolution of luxury retail and our company’s role in this industry.” The company currently has nearly 400 employees in offices in Karlsruhe, Berlin, New York, and Hong Kong.
The company is now the largest dedicated watch marketplace, receiving more than 500,000 unique visitors per day and 9 million per month. The site lists about half a million luxury watches from over 3,000 sellers and 30,000 private sellers in more than 100 countries.
In 2020, Chrono24 generated a transaction volume growth of 30 percent, with monthly purchase requests falling in the six-digit range.