Advised CHRONEXT, a leading online marketplace for luxury watches, on its growth investment by Endeit Capital and Tengelmann Ventures
Jan 2018
growth investment by
  • Sector: Media & Internet
  • Deal Type: Private and Growth Capital; Founder-led Businesses
  • Engagement type: Fundraise
Scroll

Arma Partners is pleased to announce that it has acted as exclusive financial advisor to CHRONEXT in securing a $34m growth financing round. Investors in the round include Endeit Capital and Tengelmann Ventures, as well as existing investors Octopus Ventures, Partech Ventures and Capnamic.

CHRONEXT operates an online marketplace that enables brands, retailers and consumers to buy, sell and service new and pre-owned luxury watches in a secure, authenticated environment with customers in over 130 countries worldwide.

CHRONEXT has offices and physical outlets in Zug (Switzerland), Cologne (Germany) and London (United Kingdom) and its platform supports the full range of industry participants including brands, distributors, retailers and watch buyers.

This transaction highlights Arma Partners’ deep expertise advising founder-led businesses in the Internet sector, proven capabilities in executing substantial growth financings and continues the firm’s strong track record of completed transactions in the DACH region.

– Founded in 2013 in Switzerland, CHRONEXT operates an online marketplace that enables brands, retailers and consumers to buy, sell and service new and pre-owned luxury watches in a secure, authenticated environment with customers in over 130 countries worldwide

– CHRONEXT achieved impressive traction and grew their revenues by 230% on average in the last 3 years and offers an online selection of 28,000 directly available luxury watches

– CHRONEXT has offices and physical outlets in Zug (Switzerland), Cologne (Germany) and London (United Kingdom) and its platform supports the full range of industry participants including brands, distributors, retailers and watch buyers

– The round was led by Endeit Capital and Tengelmann Ventures, who came in as new shareholders, alongside existing investors, Octopus Ventures, Partech Ventures and Capnamic

– Endeit Capital

  • Founded in 2006, Fund I and II totalling $300 million, has invested in 27 companies to date, fuelling internationalization and innovation of scalable internet companies with growth capital and entrepreneurial support
  • Endeit has previously invested in Unruly, Contorion and Gastrofix

– Tengelmann Ventures

  • As one of Germany’s leading venture capital investors Tengelmann Ventures has invested in over 50 companies over the past five years, many of which have become global players and leaders in the market in their particular segment
  • Tengelmann mainly focus on early and later-stage investment in consumer internet companies, internet marketplace and technology ventures
  • Tengelmann has previously invested in companies like Uber, Scalable Capital and CareerFoundry

– The new investment will allow CHRONEXT to strengthen its international growth and further develop its platform with regards to technology, mobile compatibility and content

– In addition, it will assist CHRONEXT in strengthening the relationship with the largest luxury watch manufacturers, in developing their digital distribution channels and omnichannel approaches

– The financing will assist CHRONEXT to become the largest player in the luxury timepiece market

– Arma was engaged by the Board of Directors of CHRONEXT to identify the most motivated and qualified financial sponsors for the company

– Arma worked extensively with CHRONEXT’s management team to articulate the company’s growth strategy and architect its financial plan

– Arma subsequently worked through an extensive due diligence and negotiation phase to help structure and complete the transaction on behalf of the Board

– This transaction demonstrates Arma Partners’ expertise in internet marketplaces and luxury travel from the team that advised companies like Just Eat and Secret Escapes on their private rounds