100 million euros for Chrono24

The Karlsruhe-based start-up has raised a lot of money in its current financing round, making it the first "watch unicorn" according to CEO Stracke.

Chrono24 has raised a whopping 100 million euros in its current Series C financing round. The round is led by US venture capitalist General Atlantic, which is providing 50 percent of the funding round. The VC arm of the French group LVMH, Aglaé Ventures, is also a new participant. Also participating are existing investors Insight Partners and Sprints Capital. "After the latest round of financing, we are certainly the world's first "watch unicorn" with a valuation of over one billion dollars," CEO Tim Stracke told Handelsblatt .

Founded in 2003, the luxury watch platform employs around 400 people and is based in Karlsruhe, Berlin, New York and Hong Kong. Stracke said the startup could increase its revenue by 50 percent in 2020. A few weeks ago, Reuters reported that there were plans for an IPO of Chrono24, also on the occasion of the new financing round, CEO Stracke does not rule out this step.

In total, the Karlsruhe-based company has now raised 200 million euros with the current round, the last round took place in 2019 and included 43 million euros.