Watchmaster just announced the closing of its $8 million Series B financing round led by Cherry Ventures who already invested in the startup’s previous financing rounds. The UK-based VC Piton Capital and Zalando founders Robert Gentz and David Schneider also participated in this financing round.
Founded in May 2015, Watchmaster is trading pre-owned watches across entire Europe. The Berlin-based company sources these watches from both, consumers and watch dealers and provides value-adding services such as refurbishment and certification.
The fresh capital will be used to further develop the business within Europe and launch in some non-European markets as well. In total, the young company already secured about $15 million in venture capital.
Daniel P. Glasner from Cherry Ventures stated: “We liked the Watchmaster team, the market and the business model from the very beginning. What really excited us was the traction the company showed over the last months. We strongly believe that they will be shaping a large global market that has been untouched for decades with their combination of strong execution and deep tech understanding.”