# Watchmaster ICP

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/watchmaster-icp

- Industry: Consumer Products
- Headquarters: Berlin, Germany
- Website: www.watchmaster.com
- Total disclosed funding: $25M
- Latest round: Series C (Nov 5, 2018)
- Investors on record: 5

## About

Based in Germany, Watchmaster ICP GmbH operates a curated platform for the buying and selling of pre-owned luxury watches, ensuring transparency and trust in the second-hand market.Watchmaster ICP GmbH specializes in the luxury watch market, providing a platform where customers can buy and sell pre-owned timepieces. Founded in 2015 and headquartered in Berlin, Germany, the company has completed 8 deals, with its latest funding round being a VENTURE DEBT round in November 2022, raising EUR 4.000 mn. The total amount raised by the company is EUR 9.000 mn. The CEO, Tim-Hendrik Meyer, leads the firm as it navigates the competitive landscape of luxury watch sales.Watchmaster is primarily focused on the luxury watch market, offering a curated platform for buying and selling pre-owned timepieces. Their core product includes a diverse array of high-end watches from reputable brands, catering specifically to watch enthusiasts and collectors. The platform addresses the need for transparency and trust in the second-hand luxury watch market, providing detailed product information and authenticity guarantees to ensure customer confidence. Their services also encompass a valuation process for sellers, which involves expert assessments to determine the fair market value of watches, thus streamlining the selling process. Watchmaster operates within key geographical markets such as Europe and North America, targeting affluent consumers who seek both investment-grade timepieces and unique personal expressions through luxury watches.Watchmaster generates revenue primarily through the sale of pre-owned luxury watches, with a structured transaction model that includes direct sales to consumers. The company facilitates transactions where sellers list their watches on the platform, and upon successful sale, Watchmaster earns a commission on the sale price. This model aligns with a B2C approach, as customers engage directly with the platform to purchase watches. Additionally, partnerships with luxury watch brands and retailers enhance the product offerings available on the platform, potentially increasing sales volume. The pricing structure reflects the premium nature of the products, with flagship timepieces commanding higher price points, thereby contributing to the overall revenue generated from these transactions. In the most recent year, the company's EBITDA was EUR -4,111,443.70.In November 2022, Watchmaster ICP GmbH filed for bankruptcy, which significantly impacts its future growth plans. While the company aims to explore potential restructuring opportunities, there currently are no disclosed strategies for new product launches or expansion into new markets.

## Funding rounds

- Series C, Nov 5, 2018, $10M — Piton Capital, Korea Investment Partners, Cherry Ventures, Mutschler Ventures, Watchmaster ICP GmbH
- Series B, Jan 29, 2016, $8M — Piton Capital, Cherry Ventures
- Series A, Oct 22, 2015, $5.5M — Piton Capital
- Series A, Jul 1, 2015, $1.6M — Piton Capital, Cherry Ventures

## Investors

- Piton Capital (https://capitalatlas.ai/funds/piton-capital) — Series A, Series B, Series C
- Cherry Ventures (https://capitalatlas.ai/funds/cherry-ventures) — Series A, Series B, Series C
- Korea Investment Partners (https://capitalatlas.ai/funds/korea-investment-partners) — Series C
- Mutschler Ventures (https://capitalatlas.ai/funds/mutschler-ventures) — Series C
- Watchmaster ICP GmbH — Series C