Karls\u00adruhe, Germany \u2014 Chrono24, a leading global online market\u00adplace for new and pre-owned luxury watches, announ\u00adced that it has secu\u00adred more than \u20ac100 million ($118+ million) in its Series C finan\u00adcing round. The round was led by Gene\u00adral Atlan\u00adtic, a leading global growth capi\u00adtal inves\u00adtor, with parti\u00adci\u00adpa\u00adtion from Agla\u00e9 Ventures, the tech\u00adno\u00adlogy arm of the Arnault fami\u00adly\u2019s invest\u00adment company. Exis\u00adting inves\u00adtors Insight Part\u00adners and Sprints Capi\u00adtal also parti\u00adci\u00adpa\u00adted in the round.<\/p>\n
Toge\u00adther with this latest mino\u00adrity growth finan\u00adcing, Chrono24 has raised a total of over \u20ac200 million (appro\u00adxi\u00adm\u00adately $236 million) in funding to date.<\/p>\n
Chrono24 plans to use the freshly raised capi\u00adtal to acce\u00adle\u00adrate its growth trajec\u00adtory and further expand inter\u00adna\u00adtio\u00adnally, build its presence in exis\u00adting markets and streng\u00adthen its global team with addi\u00adtio\u00adnal top talent. The company is alre\u00adady the market leader in over 100 count\u00adries. The plan is to further improve the user expe\u00adri\u00adence of the online market\u00adplace in order to bene\u00adfit even more from the flou\u00adris\u00adhing market for pre-owned luxury watches and to opti\u00admally serve a new gene\u00adra\u00adtion of collectors.<\/p>\n
Foun\u00added in 2003, Chrono24 pionee\u00adred the digi\u00adtiza\u00adtion of the tradi\u00adtio\u00adnally analog luxury watch indus\u00adtry: it was one of the first major compa\u00adnies to bring toge\u00adther watch retail\u00aders and coll\u00adec\u00adtors around the world through its online market\u00adplace. Today, the plat\u00adform has an average of 500,000 unique visi\u00adtors per day. With more than 3,000 dealers and 30,000 private sellers in over 100 count\u00adries world\u00adwide, Chrono24 carries appro\u00adxi\u00adm\u00adately half a million luxury watches for sale at any given time.<\/p>\n
J\u00f6rn Niko\u00adlay, Mana\u00adging Direc\u00adtor<\/strong> and respon\u00adsi\u00adble for Gene\u00adral Atlan\u00adtic<\/strong>\u2019s German busi\u00adness, says: \u201cSince its foun\u00adding in 2003, Chrono24 has evol\u00adved from Karls\u00adruhe into a global pioneer in crea\u00adting a cross-border online market\u00adplace for luxury watches, with an inno\u00adva\u00adtive model based on trans\u00adpa\u00adrency and sustaina\u00adbi\u00adlity. We are plea\u00adsed to support Chrono24 with our capi\u00adtal and exper\u00adtise as it conti\u00adnues its global expansion.\u201d<\/p>\n Tim Stra\u00adcke, Co-CEO of Chrono24,<\/strong> adds: \u201cOnce again, Chrono24 has succee\u00added in attrac\u00adting first-class growth inves\u00adtors such as Gene\u00adral Atlan\u00adtic and Agla\u00e9 Ventures as part\u00adners. We have initia\u00adted the concept of an online market\u00adplace for luxury watches and built a plat\u00adform that supports and encou\u00adra\u00adges chan\u00adging consu\u00admer beha\u00advior. Chrono24 provi\u00addes proof to an indus\u00adtry that has tradi\u00adtio\u00adnally always shied away from disrup\u00adtion that such a concept works perfectly. We are very plea\u00adsed that Gene\u00adral Atlan\u00adtic and Agla\u00e9 Ventures reco\u00adgnize the huge market poten\u00adtial of digi\u00adtiz\u00ading luxury retail and also our role within this industry.\u201d<\/p>\n Chrono24 conti\u00adnues to be led by its foun\u00adder and co-CEO Tim Stra\u00adcke, co-CEO (and former CEO of Team\u00adViewer) Holger Felg\u00adner and CFO Stephan Knie\u00adwas\u00adser. In addi\u00adtion to the new inves\u00adtor group, a majo\u00adrity of the exis\u00adting share\u00adhol\u00adders, inclu\u00adding Felg\u00adner and Knie\u00adwas\u00adser, also co-inves\u00adted. This new round of finan\u00adcing follows Chrono24\u2019s Series B in 2019, which raised \u20ac43 million from Sprints Capi\u00adtal, Gianni Serazzi, a former Riche\u00admont direc\u00adtor, and Alberto Grignolo, foun\u00adder of YOOX-NET-A-PORTER, among others. Previously, Round A in 2015 had gene\u00adra\u00adted over \u20ac37 million in seve\u00adral steps, inclu\u00adding from Insight Partners.<\/p>\n About Chrono24 Gene\u00adral Atlantic<\/strong><\/p>\n Gene\u00adral Atlan\u00adtic is a leading global growth capi\u00adtal inves\u00adtor that provi\u00addes capi\u00adtal and stra\u00adte\u00adgic support to compa\u00adnies with high growth poten\u00adtial. Foun\u00added in 1980, the company combi\u00adnes a colla\u00adbo\u00adra\u00adtive global approach, indus\u00adtry-speci\u00adfic exper\u00adtise, a long-term invest\u00adment hori\u00adzon and a deep under\u00adstan\u00adding of growth drivers with outstan\u00adding manage\u00adment teams to create excep\u00adtio\u00adnal busi\u00adness models world\u00adwide. Gene\u00adral Atlan\u00adti\u00adc\u2019s team includes more than 175 invest\u00adment profes\u00adsio\u00adnals in New York, Amster\u00addam, Beijing, Green\u00adwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, S\u00e3o Paulo, Shang\u00adhai and Singa\u00adpore. www.generalatlantic.com<\/p>\n About Agla\u00e9 Ventures Karls\u00adruhe, Germany \u2014 Chrono24, a leading global online market\u00adplace for new and pre-owned luxury watches, announ\u00adced that it has secu\u00adred more than \u20ac100 million ($118+ million) in its Series C finan\u00adcing round. The round was led by Gene\u00adral Atlan\u00adtic, a leading global growth capi\u00adtal inves\u00adtor, with parti\u00adci\u00adpa\u00adtion from Agla\u00e9 Ventures, the tech\u00adno\u00adlogy arm of the [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":37924,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1365,1366,1369],"tags":[],"class_list":["post-40327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-private-equity-en","category-news-en","category-investors"],"yoast_head":"\n
\n<\/strong>
\n\u201cChrono24 \u2014 The Worl\u00add\u2019s Watch Market\u201d is a leading global online market\u00adplace for luxury watches since 2003. With appro\u00adxi\u00adm\u00adately 500,000 watches from more than 3,000 dealers from over 100 count\u00adries and over 30,000 private sellers, the portal reaches more than nine million unique visi\u00adtors per month. In 2020, Chrono24 achie\u00adved growth in tran\u00adsac\u00adtion volume of over 30% with monthly purchase inqui\u00adries in the six-digit range. With a large combi\u00adned global offe\u00adring of new, used and vintage watches, Chrono24 offers a compre\u00adhen\u00adsive service port\u00adfo\u00adlio that allows buyers and sellers to conduct their tran\u00adsac\u00adtions in a trus\u00adted envi\u00adron\u00adment. The global support team provi\u00addes assis\u00adtance via email or phone in 15 diffe\u00adrent languages. Chrono24 was foun\u00added in 2003 and employs nearly 400 people in its offices in Karls\u00adruhe, Berlin, New York and Hong Kong. www.chrono24.com<\/p>\n
\n<\/strong>
\nAgla\u00e9 Ventures is an inter\u00adna\u00adtio\u00adnal invest\u00adment company based in Paris, New York and Los Ange\u00adles. It is supported by Agache, the holding company of the Arnault family and majo\u00adrity share\u00adhol\u00adder of LVMH, the world leader in luxury goods. For nearly 30 years, Agache has supported fast-growing inno\u00adva\u00adtive compa\u00adnies at all stages of their deve\u00adlo\u00adp\u00adment, inclu\u00adding Auto\u00admat\u00adtic, Back\u00adMar\u00adket, Mano Mano and Noom in recent months. https:\/\/aglaeventures.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"