Watchmaster operates a marketplace for certified, refurbished pre-owned fine watches. Founded in 2015 and based in Berlin, it employs about 60 people and is active in seven European countries: Germany, Switzerland, France, the UK, Sweden, the Netherlands, and Belgium. The company has created an in-house watch servicing team, partnered with financing providers to lower the entry barrier for customers, and maintains an inventory of watches worth approximately €11 million. To support expansion across Europe, Watchmaster raised €9 million in equity financing and €4 million in debt financing, a €13 million package. The company also appointed Tim-Hendrik Meyer, former co-founder and COO of Quandoo, as CEO. Management says it aims to professionalize the underdeveloped secondary market and make watches more liquid assets for consumers. Watchmaster is a Berlin-based trading platform for pre-owned watches. The company sources watches from both consumers and watch dealers and provides services such as refurbishment and certification. Founded in May 2015 by Stephan Heller, Ronny Ahlswede, Tobias Glinzer, Philipp Magin and Ronny Lange, it employs more than 70 people across Europe, Asia and the United States. Watchmaster closed an $8M Series B led by Cherry Ventures, bringing total funding to about $15M to date. Daniel P. Glasner from Cherry Ventures will join Watchmaster’s board in conjunction with the funding. The company intends to use the new funds to develop the business within Europe and to launch its first non-European markets.

Total raised

$23M

Funding rounds

3

Latest round

Equity

Latest activity

Nov 2018