Chrono24 attracts €43m investment to help fuel growth

The investment comes from new York-based Insight Partners and unnamed Asian finance funds that have made substantial co-investments.

Founder and co-CEO Tim Stracke said he is “looking forward to an exciting future”.

He said: “Continuous growth without taking major losses has always been an essential component of our growth strategy.

“With over 15 years of experience in the industry, we feel closer to our users than ever before and are familiar with what makes them tick. We will use this new capital to better address the needs of dealers, private users, and manufacturers.”

In the last five years, over €80m (£71M) has been invested in Chrono24, which is still led by its founders.

Chrono24’s managing director and co-CEO, Holger Felgner, added: “We’re thrilled to have shareholders with a wide range of expertise, from watches and luxury to online marketplaces and in-depth knowledge of the Asian market.

“Together, we’ll be able to significantly accelerate Chrono24’s growth using this investment capital and our combined know-how.”