Chrono24 118M Series Atlantic:
Chrono24, the world’s largest online luxury watch marketplace, recently raised a $118 million Series C funding round led by General Atlantic . The funding round also saw participation from Aglaé Ventures, a venture capital firm backed by Louis Vuitton owner Bernard Arnault . With this new funding, Chrono24 plans to expand its global reach and enhance its platform to offer an even better experience to its customers.
What is Chrono24?
Chrono24 is a global digital marketplace for new and pre-owned luxury watches. Founded in 2003, the company is headquartered in Karlsruhe, Germany, and has offices in Berlin, New York, Hong Kong, and Tokyo . The platform connects buyers and sellers of luxury watches from around the world, offering a wide range of brands and models, from Rolex and Omega to Patek Philippe and Audemars Piguet.
The 118M Series Atlantic
The $118 million Series C funding round is a significant milestone for Chrono24, as it marks the largest funding round in the company’s history . The funding will be used to expand the platform’s global reach and enhance its technology to offer an even better experience to its customers. In particular, Chrono24 plans to invest in artificial intelligence and machine learning to improve its search and recommendation algorithms .
The Future of Luxury Watch Marketplace
With the luxury watch market growing rapidly, Chrono24 is well-positioned to capitalize on this trend. According to a report by Bain & Company, the global luxury watch market is expected to grow at a compound annual growth rate of 4-5% over the next few years . As more consumers turn to online marketplaces to buy and sell luxury watches, Chrono24 is likely to see continued growth and success.
The Benefits of Chrono24
One of the key benefits of Chrono24 is its global reach. With buyers and sellers from around the world, the platform offers a wide range of luxury watches that may not be available in a local market. Additionally, Chrono24 offers a secure payment system and a buyer protection program to ensure that transactions are safe and secure . The platform also offers a comprehensive database of watch models and prices, making it easy for buyers to research and compare different options.
Chrono24’s $118 million Series C funding round is a significant milestone for the company, as it marks the largest funding round in its history. With plans to expand its global reach and enhance its technology, Chrono24 is well-positioned to capitalize on the growing luxury watch market. As more consumers turn to online marketplaces to buy and sell luxury watches, Chrono24 is likely to see continued growth and success.