Insight Ventures injects €21m into Chrono24

The fresh capital will enable Chrono24 to expand across the Asian and US markets, with planned office openings in New York and Hong Kong.

Insight has been very active on the European market in 2015, with Chrono24 being its seventh investment since the start of the year. The last deal was a $75m investment in Irish financial software developer Fenergo.

Company
Founded in 2003 and based in Karlsruhe, Germany, Chrono24 is an online marketplace for luxury watches. In 2014, watches worth €500m were sold via the platform, according to the company.

Chrono24 has 50 employees.

People
Deven Parekh is managing partner at Insight. Tim Stracke and Dirk Schwartz are co-CEOs of Chrono24.

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• Topics
• DACH
• Consumer
• Expansion
• Germany
• Insight Venture Partners