Timeless Closes €12M Funding Round
Summary
Timeless, a Berlin, Germany-based company that lets users invest fractional shares in luxury and cultural assets, closed a €12m funding round. The round was led by EQT Ventures (Jenny Dreier) with participation from existing investors including C3 (FinLab EOS VC Fund), La Roca, and Porsche Ventures. The company intends to use the funds to expand the supply and bring a wider range of assets onto the platform. Launched in February 2021 by CEO Jan Karnath, CTO Andreas Joebges and CFO Malte Häusler, Timeless 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.