Chrono24, the world’s largest online marketplace for new and used luxury watches, has raised more than 100 million euros ($118 million) in its Series C funding round. Leading international growth equity company General Atlantic headed the round, with additional participation from Aglaé Ventures, owned by the Arnault family, and existing investors Insight Partners and Sprints Capital. With this latest minority growth funding, Chrono24 has raised over 200 million euros (US$236 million).
This investment will allow Chrono24 to continue expanding its presence in the luxury watch market, focusing on providing the best service for buyers and sellers. It also demonstrates the confidence of Chrono24’s investors in the company’s vision and mission. Chrono24 118m Series General Atlantic marks a new milestone for Chrono24 in its mission to become the premier global marketplace for luxury watches.
Chrono24 118m Series General Atlantic: What Do You Understand By Chrono24
? Chrono24 is a leading global marketplace for luxury watches, offering buyers the finest selection of pre-owned and new timepieces from world-renowned brands. Chrono24’s mission is to make buying and selling luxury watches safe and secure for everyone. With its 118m Series General Atlantic investment, Chrono24 plans to use the new capital to accelerate its growth, expand into new markets, and grow its presence in existing ones. Chrono24 will also use the investment to add top talent to its global team and improve the user experience for a more streamlined shopping experience.
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This will help Chrono24 take advantage of the growing pre-owned luxury watch market and reach a new generation of collectors. Chrono24 is committed to providing customers with the highest quality products and customer service, helping them find the perfect watch for any occasion. With its 118m Series General Atlantic investment, Chrono24 is well-positioned to continue building on its success and become the go-to destination for luxury watches.
Everything To Know
Chrono24, one of the leading luxury watch marketplaces worldwide, has recently raised 118 million dollars in Series General Atlantic investment. Chrono24 was founded in 2003 and has grown to become an international leader in digital watch transactions, with more than 500,000 distinct users accessing the site daily and over half a million luxury timepieces available for purchase anytime. Chrono24 works with 3,000 retail dealers and 30,000 private sellers in over 100 countries to make this possible.
The new investment allows Chrono24 to further expand its capabilities and resources to provide users with an even better experience on its platform. Chrono24 plans on using the capital to strengthen its position in the market and expand its product range. This includes improving Chrono24’s core services for dealers and developing new products such as Chrono24 Insights, which offers valuable data insights into the watch industry.
The Chrono24 118m Series General Atlantic investment also allows Chrono24 to further develop its international presence. Chrono24 already operates in 16 countries, and the new capital will enable them to expand their services into more markets. This will allow Chrono24 to further facilitate the buying and selling of luxury watches around the world.
Company Details
Chrono24 was founded in 2003 by Tim Stracke and has become the world’s leading online marketplace for luxury watches. Chrono24 operates across seven countries: Germany, Austria, Switzerland, Spain, Italy, France, and the United States.
In October 2020, Chrono24 announced that it had received a 118 million Series C round led by General Atlantic. This investment follows Chrono24’s previous investments of 42 million Euros through two rounds in 2017 and 2019.
Tim Stracke, Holger Felgner, and Stephan Kniewasser remain as Co-CEOs and CFO at Chrono24. Along with the new investors, Chrono24’s current owners, including Felgner and Kniewasser, have also reinvested in the company.
Chrono24’s primary objective is to give users a secure, transparent, and efficient platform to buy and sell luxury watches. This investment will allow Chrono24 to continue developing its innovative products and services for global luxury watch buyers and sellers. Chrono24 also provides ancillary services such as product authentication, buyer financing options, and delivery insurance for sellers.
With this new investment, Chrono24’s mission is to become the go-to destination for luxury watch enthusiasts worldwide. Chrono24 is committed to providing its users with the highest quality products and services while maintaining a safe and secure environment. Chrono24 looks forward to continuing its work in developing innovative solutions that benefit the luxury watch industry.
Introduction To Chrono24 GmbH
Chrono24 GmbH is the world’s leading online watch market and a household name for many luxury watch enthusiasts. Founded in 2003, Chrono24 has become one of the most successful global platforms for buying and selling watches. Last year they were acquired by an investor group led by General Atlantic, a leading growth equity firm. This acquisition is a major milestone for Chrono24 and marks the beginning of an exciting new chapter in the company’s history.
The Chrono24 platform has attracted over 9 million unique users every month since it was founded and currently boasts more than 500,000 timepieces available for purchase from over 3,000 stores in over 100 countries. Chrono24 also offers a platform for more than 30,000 individuals to sell their watches.
Chrono24 GmbH aims to make luxury watch buying and selling easier and safer for everyone involved by offering secure payment solutions, buyer protection programs, fraud detection systems, and a dedicated customer service team. This commitment to providing a secure marketplace for customers has earned Chrono24 GmbH the trust of luxury watch buyers and sellers worldwide.
