Home business <strong>In a Series C round headed by General Atlantic, Chrono24 raised $118 million</strong>

In a Series C round headed by General Atlantic, Chrono24 raised $118 million

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<strong>In a Series C round headed by General Atlantic, Chrono24 raised $118 million</strong>

German-based chrono24 118 m Atlantic 236 m is an online retailer of high end timepieces. In a recent Series C investment round, it raised more than €100 million ($118 million). Insight Partners, Aglaé Ventures, and Sprints Capital were also investors in the financing round, with growth equity firm General Atlantic serving as the round’s lead investor. Chrono24 plans to increase its market share and use the proceeds from the fundraising to further its global expansion. The company also plans to add new talent to its global workforce and enhance user experience in the burgeoning used luxury watch industry to attract more collectors. According to Tim Stracke, Co CEO of chrono24 118 m Atlantic 236 m, the company has been successful in luring top tier partners with in-depth knowledge of growth, like General Atlantic and Aglaé Ventures.

In addition, he claimed to have invented a platform that supports and promotes altering client behavior. However, it also provides critical proof of concept to a sector that has traditionally resisted change. Chrono24 first introduced the idea of an updated digital marketplace for the luxury watch industry. We are ecstatic that General Atlantic and Aglaé Ventures recognize the vast market potential of luxury retail’s digital transformation and our company’s role in these things.

chrono24 118 m Atlantic 236 m, situated in Karlsruhe, has established itself as one of the global pioneers since its founding in 2003, according to Jörn Nikolay, managing director of General Atlantic Germany. With a cutting edge concept supported by openness and sustainability, they have pioneered the development of a world wide online marketplace for luxury timepieces. According to Jorn, they are so happy to contribute to our resources and expertise to chrono24 118 m Atlantic 236 m’s ongoing international expansion.

The Karlsruhe based company Chrono24 offers about 500,000 pricey timepieces for sale:

With more than three thousand retail businesses and thirty thousand independent vendors, the store accommodates on an average of five lakhs visitors on a daily basis. In contrast, the company secured $50.4 million in Series B funding from Sprints Capital and other investors in 2019. With this most recent round of funding, the company has already raised more than €200 million ($236 million), and the company is planning to expand its service more to reach more customers.

Concerning General Atlantic:

During 400 growths, companies have received financing and strategic support from the General Atlantic, a top international growth equity firm, throughout history. A global approach, in the specific sector, a investment for a long time horizon, and a very good understanding of  the heavy growth drivers are just a few of the attributes that the firm, which was founded in 1980 to have a partnership with visionary entrepreneurs and deliver long lasting impact, combines to help great entrepreneurs and all the management teams scale creative businesses in the whole world. As of March 31, 2021, General Atlantic was in charge of more than $65 billion of assets, and it is more than one hundred seventy five investment experts were situated in New York, Amsterdam, Beijing, Hong Kong, London, Jakarta, Mumbai, Mexico City, Palo Alto, Munich, So Paulo, Singapore, Shanghai, and Stamford.

Regarding Chrono24 GmbH

Since 2003, ” chrono24 118 m series Atlantic 236 m – The World’s Watch Market” has been a premier international online marketplace for upscale timepieces. The platform receives over 9 million unique visitors each month and offers about five lakhs watches from more than three thousands stores in more than 100 countries. So it’s a big growth according to the numbers.  Chrono24 118 m series Atlantic 236 m had a +30% increase in transaction volume in 2020, with monthly purchase requests in the six digit level. Chrono24 provides a wide range of services and has a global selection of new, used, and vintage watches. This enables buyers and sellers to conduct business in a secure setting, and that’s why more buyers or customers will get engaged with the company and the company will continuously grow bigger and bigger. The international support team offers assistance by phone or mail in 15 different languages. Chrono24 was established in 2003 and has offices in Karlsruhe, Berlin, New York, and Hong Kong; it employs close to four hundred people.

Engagement of Aglaé Ventures: Germany’s Karlsruhe: (Business Wire)

Chrono24 118 m series general Atlantic 236 m, a top global online retailer of new and used luxury timepieces, revealed today that it had raised more than 100 million euros ($118 million) in Series C funding. General Atlantic, a well known international growth equity firm, served as the round’s lead investor, while Aglaé Ventures, the investment business run by the Arnault family’s technology division, also participated. Insight Partners and Sprints Capital, already investors, also participated in the round.

Chrono24 intends to take advantage of the new investment to accelerate its growth trajectory. This includes expanding worldwide, strengthening its position in current markets, and enlarging its global workforce with more top talent. This thing will surely engage more audiences and increase the company’s growth. Chrono24 118 m series general Atlantic 236 m, which has already established itself as a market leader in more than 100 nations, also wants to improve its user interface to take full advantage of the booming used luxury watch market as well as the opportunity to cater to a new generation of collectors.

Chrono24 was one of the first large-scale firms of its magnitude to connect watch dealers and collectors across the globe through its digital marketplace. Chrono24 was founded in 2003 and pioneered the digitization of the formerly offline luxury watch sector. Currently, the business records five lakhs unique visitors daily on average.

Final Thoughts: –

General Atlantic’s operations in Germany are overseen by Jörn Nikolay, Managing Director, who stated: “Since its founding in 2003, Karlsruhe based With an innovative approach supported by openness and sustainability, Chrono24 has emerged as a global leader in the development of a cross border online marketplace for luxury watches.