Chrono24 118m series general atlantic

Chrono24 118m series general atlantic

Written by thetechw, In Business, Published On
December 1, 2022
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Thinking of a major global transition equity firm? You are in the right place. General Atlantic is one of the most well-known firms that guided the funding round. Through its most recent round of minority expansion capital, Chrono24 has raised its total money to over 200 million euros, analogous to around 236 million dollars USD. This blog will read about Chrono24 118m series general atlantic. Read on to know more.

 

Chrono24 118m series general atlantic: What exactly is the Chrono24?

Chrono24 118m series general atlantic

Chrono24 118m series general atlantic intends to utilise the funds from the capital round to grow its global operations and enhance its market share. In addition, the firm intends to recruit fresh talent to its worldwide workforce and improve the user experience in the fast expanding pre-owned luxury watch market in order to attract more collectors. Tim Stracke, co-CEO of Chrono24, highlighted that the firm has secured top-tier partners with significant growth expertise, such as General Atlantic and Aglaé Ventures. Chrono24’s expansion has been substantial and fruitful.

In addition, he stated that he had developed a system that helps and encourages customers to alter their behavior patterns. However, it also provides one of the most important proofs of concept to a sector that has traditionally been resistant to change. Within the luxury watch industry, Chrono24 was the first company to use the concept of a digital marketplace. We are ecstatic that General Atlantic and Aglaé Ventures see the immense market potential of luxury retail’s digital revolution and the company’s presence. This is something that the members of the company have been working hard to achieve.

 

An Introduction to Chrono24 118m series general atlantic

Chrono24 118m series general atlantic – The World’s Watch Market” has been the most successful online luxury watch market anywhere in the world since 2003. According to the calculations, more than 9 million people use the platform monthly. It has about 500,000 watches for sale from more than 3,000 stores in more than 100 countries, and more than 30,000 people are selling their own watches. 

In 2020, the number of transactions on Chrono24 went up by more than 30%, and the number of requests to buy things each month was in the six-digit range. Chrono24 gives buyers and sellers a safe place to do business by letting them buy and sell new, used, and vintage timepieces worldwide. Chrono24 offers a wide range of services, which includes this one. 

The global customer service team can help by phone or email in 15 different languages. Chrono24 was started in 2003 and has offices in Karlsruhe, Berlin, New York, and Hong Kong. Nearly 400 people work for the company. www.chrono24.com. 

Chrono24 118m series general atlantic: Concerning the General Atlantic.

Throughout its history, General Atlantic has been a prominent global growth equity firm. The company has more than four decades of experience and provides financial and strategic assistance to more than 400 development companies. The firm was created in 1980 to collaborate with creative entrepreneurs and produce sustainable results. To achieve this purpose, the company utilises a global collaborative strategy, sector-specific knowledge, a long-term investment horizon, and an in-depth understanding of growth drivers to cooperate with exceptional entrepreneurs and management teams to build innovative businesses globally.

As of the 31st of March in 2021, General Atlantic managed more than $65 billion in assets and employed more than 175 investment professionals working out of offices in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, So Paulo, Shanghai, Singapore, and Stamford. Please visit our website at www.generalatlantic.com if you want further information on General Atlantic.

History of Chrono24 118m series general atlantic

“Since Chrono24 118m series general atlantic establishment in 2003, Karlsruhe-based Chrono24 has become a global pioneer in the creation of a cross-border online marketplace for luxury watches,” said Jorn Nikolay, the Managing Director with responsibility for General Atlantic’s operations in Germany. Chrono24 has an innovative model that is underpinned by transparency and sustainability. Chrono24 is a global pioneer creating a cross-border online marketplace for luxury watches. We are delighted to provide Chrono24 with financial and strategic assistance as it expands its global operations.

Chrono24 118m series General Atlantic has attracted exceptional growth-experienced partners, such as General Atlantic and Aglaé Ventures. Tim Stracke, co-chief executive officer of Chrono24, stated, “As the pioneers of the digital marketplace concept within the luxury watch industry, we’ve created a platform that not only supports and encourages evolving consumer behaviour, but also provides invaluable proof of concept to an industry that has historically avoided disruption.” Chrono24 was the first firm in the luxury watch industry to offer the notion of a digital marketplace. “We are ecstatic that General Atlantic and Aglaé Ventures see the immense market potential of the digital evolution of luxury retail and our company’s position in this sector,” said one of the company’s representatives.

Tim Stracke, the company’s creator and a current Co-CEO, Holger Felgner, a previous CEO of TeamViewer, and Stephan Kniewasser, the company’s CFO, continue to serve in these leadership roles. Together with the new group of investors, most of the company’s current owners, including Felgner and Kniewasser, invested in the business. This latest fundraising round follows Chrono24’s 2019 Series B financing of 43 million euros, which was headed by Sprints Capital and includes participation from former Richemont director Gianni Serazzi and YOOX-NET-A-PORTER founder Alberto Grignolo, among other investors. In addition, it follows the company’s Series A funding of 37 million euros in 2015, headed by Insight Partners.

Conclusion

Chrono24 118m series general atlantic is one of the world’s leading online markets for new and pre-owned luxury watches. The firm recently reported that it has raised more than 118 million dollars in Series C financing, which is comparable to more than 100 million euros.

 

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