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Leclerc Joins Elite Circle with Chrono24 Investment

F1 Star Charles Leclerc Invests in Luxury Watch Hub

04/06/2024

Monaco’s F1 sensation, Charles Leclerc, ventures into luxury watches with a significant investment in Chrono24, marking another step in his off-track business expansion.

Currently ranking second in this year’s Formula 1 championship and fresh from a victory at the esteemed Monaco Grand Prix, Leclerc continues to expand his business interests beyond the racetrack. Following his foray into the ice cream business, he has now aligned with Chrono24 as it pursues global expansion, fuelled by his burgeoning interest in horology.

Alongside his brother Lorenzo, who advises him on entrepreneurial projects and with whom he has established a family office dedicated to athletes named “All Time,” Charles has made a joint investment in Chrono24. The brothers join a notable roster of prior investors in Chrono24, including international football superstar and luxury watch collector Cristiano Ronaldo (announced in July 2023), Bernard Arnault’s family investment firm, Aglae Ventures, as well as General Atlantic, Insight Partners, and Sprints Capital, who collectively led Chrono24’s Series C funding round in August 2021. This round raised €100 million, elevating the company to unicorn status with a valuation exceeding €1 billion.

This follows a €43 million Series B funding in 2019 from Sprints Capital, former Richemont executive Gianni Serazzi, and YOOX-NET-A-PORTER founder Alberto Grignolo, as well as a €37 million Series A funding from Insight Partners in 2015.

“We are immensely proud to welcome Charles and Lorenzo to our Chrono24 journey,” stated Carsten Keller, CEO of Chrono24. “These esteemed brothers share our passion for watches and the pursuit of our company’s excellence. Their expertise is formidable, and together, we are poised to reach new heights.”

“The horological world has long captivated me and is one of my many passions,” declared Charles Leclerc.

“There is a genuine unification among watch enthusiasts worldwide, and my brother and I are thrilled to deepen our involvement in this community through our engagement with Chrono24.”

“The prospect of a sporting legend like Charles Leclerc joining Chrono24 as an investor is thrilling,” added Tim Stracke, founder and chairman of the board at Chrono24, who facilitated the Formula 1 driver’s investment following their discussions as watch enthusiasts in 2022.

“He has already created an incredible legacy early in his life, and his prowess as a young investor is a stellar example of his passion for performance.”

Leclerc Joins Elite Circle with Chrono24 Investment

Leclerc Joins Elite Circle with Chrono24 Investment. Leclerc Joins Elite Circle with Chrono24 Investment

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