General Atlantic has led a EUR100 million Series C funding round in online luxury watch marketplace Chrono24. This latest round follows Chrono24’s 2019 EUR 43 million Series B financing from Sprints Capital, former Richemont director Gianni Serazzi, and YOOX-NET-A-PORTER founder Alberto Grignolo, as well as the company’s EUR37million Series A from Insight Partners in 2015.
Chrono24 will continue to be led by its founder and co-CEO Tim Stracke; co-CEO and former TeamViewer CEO Holger Felgner; and CFO Stephan Kniewasser. A majority of existing shareholders, including Felgner and Kniewasser, also co-invested alongside the new group of investors.
Chrono24 will use the fresh capital to ramp up its growth, including continuing to scale internationally, deepening its presence in existing markets and furthering its global team with additional talent hires, according to the company.
Source: Private Equity Wire
BY Karin Wasteson
