Timeless closed a €12 million funding round led by EQT Ventures

Timeless, a Berlin, Germany-based company building and operating a digital marketplace for consumers investing fractional shares in luxury and cultural assets, announced that it raised a €12 million ($13.7M) funding round.

The money was raised from investors led by EQT Ventures (Jenny Dreier) with participation from existing investors including C3 EOS VC (FinLab EOS VC Fund), La Roca, and Porsche Ventures.

The proceeds will be used to expand the supply and bring a wider range of assets onto the platform.

Timeless, founded  at the start of 2021 by CEO Jan Karnath, Andreas Joebges and Malte Häusler, developed a marketplace that enables users to buy shares in exclusive assets such as artwork, rare sneakers, watches, luxury cars, fashion pieces, and memorabilia from as little as €50 per share. The company buys the items, fractionalises them, and deploys them through a blockchain protocol, meaning it can fully trace the history of collector items.

Timeless says it already onboarded 75,000 users with 62 assets such as Porsche 911-993 Targa, Banksy artwork, Michael Schumacher helmets and Jordan Collection. It also says to intend to open its first pop-up showroom.