Berlin - Schnittker Möllmann Partners (SMP) has advised the Swiss luxury watch online shop Chronext on their Series E. The financing round is led by Dutch venture capital fund Slingshot Ventures and amounts to a total of 65 million euros. Existing investors include Partech, Endeit Capital, Tengelmann Ventures, Octopus Ventures, Capnamic and NRW.Bank.
"We have been advising Chronext for a few years and are happy to be able to contribute to the success story. With its platform, the Chronext team has brought analog luxury watches into the digital 21st century. They managed to occupy the lucrative niche with an extraordinary sense for customer needs and ultimately demonstrate how to run e-commerce successfully," said Peter Möllmann, partner at SMP.
Chronext is the leading platform for buying and selling luxury watches with offices in Zug, London and Hong Kong. The company was founded in 2013 by Ludwig Wurlitzer and Philipp Man.