Watchmaster adds €13 million in capital investment.

Watchmaster, a Berlin, Germany-based startup operating a watch marketplace, announced raising €13 million in total funding.

The money is part equity - €9 million ($10.3M) - and part debt - €4 million. Watchmaster also announced the appointment of Tim-Hendrik Meyer, the former co-founder and COO of a table-booking startup Quandoo, as the new CEO.

The proceeds will be used to expand the company's pre-owned fine watch marketplace across Europe.

Watchmaster, founded in 2015 by Stephan Heller and Ronny Ahlswede, built a business around a marketplace for pre-owned luxury watches. The company has also created an in-house watch servicing team, partnered with financing providers to lower the entry barrier for customers, and built an inventory of watches worth some €11 million in total. Watchmaster currently employs 60 people and is active in seven countries across Europe: Germany, Switzerland, France, the UK, Sweden, the Netherlands, and Belgium.