Partech invests in Chronext's $5.3m round

Partech and existing backers Capnamic Ventures and NRW Bank were joined by InVenture Partners, MGO Digital Ventures, Altus Capital Partners, Playfair Capital and several business angels.

The company plans to use the fresh capital to strengthen its market position in the DACH region and the UK, and to invest in marketing, IT and customer care.

Chronext's competitior, Chrono24, raised €21m from Insight Ventures in July 2015.

Previous funding
In November 2014, Capnamic invested an undisclosed amount in a series-A for Chronext. The VC commited capital alongside NRW, Quintessentially Group, JamJar Investments and other investors.

Company
Founded in 2013 and based in Cologne, Chronext is an online platform for buying and selling luxury watches. The company has additional sites in the UK and Switzerland.

People
Philipp Man is the founder and CEO of Chronext. Otto Birnbaum is a principal at Partech.

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• Topics
• DACH
• Expansion
• Technology
• Germany
• Partech Ventures