Timepiece reseller platform WatchBox raises US$165m for global expansion
Basketball greats Michael Jordan and Giannis Antetokounmpo among latest round of investors
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WITH US$50 million seed capital raised mainly out of Singapore, WatchBox - which provides a platform for people to buy, sell and trade luxury watches - has grown in the past 5 years to become the biggest player in the booming pre-owned watch business. And it is poised to advance its global ambitions following a new round of fundraising.
The US-based watch reseller, owned partly by Singaporeans and which has raked in revenues of US$1 billion since it started in 2017, has raised US$165 million of fresh capital, with most of the money coming from the United States, according to Tay Liam Wee, WatchBox's chairman for the Asia-Pacific region, in a Zoom interview with The Business Times (BT) recently.
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