Watchmaster announced adding strategic investment from Olma Luxury Holdings.

Watchmaster, a Berlin, Germany-based company operating an online retail platform designed to offer pre-owned luxury watches, entered into an investment agreement for raising from capital from Olma Luxury Holdings.

Existing investors Milano Investment Partners, Cherry Ventures, Mutschler Ventures and Piton Capital were also part of the deal.

Watchmaster, founded in 2015 by Stephan Heller and Ronny Ahlswede, developed an online platform used for increasing the value of pre-owned watches through in-house certification and refurbishment process, and making them a comparable and competing product to new and unworn watches. The company has also created an in-house watch servicing team and serves customers willing to bith buy and sell luxury watches of every brand and model at a affordable rate.

Prior to this round, Watchmaster raised about $20 mil in equity financing and €4 million in debt.