Watchmaster raises $8m from Cherry Ventures et al.

The new funds will be used to further develop the business within Europe and launch first non-European markets.

Watchmaster's competitors recently received sizable funding rounds as well: in November 2015, Chronext raised a $5.3m round from Partech, Capnamic Ventures and others, while Chrono24 raised €21m from Insight Ventures in July 2015.

Previous funding
Watchmaster received seed capital from Cherry and Piton in August 2015. A $5.5m series-A led by Piton followed in November that year.

Company
Founded in April 2015, Watchmaster operates a platform to buy and sell watches online, specialising in new and pre-owned luxury watches. The company sources these watches from both consumers and watch dealers, and provides value-adding services such as refurbishment and certification. Watchmaster is based in Berlin, Germany.

People
Cherry Ventures – Daniel Glasner (managing partner).
Watchmaster – Stephan Heller (CEO, founder).

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• Topics
• Expansion
• DACH
• Consumer
• Germany
• Venture