ard luxury goods, especially fine watches, now behave like assets rather than simple consumer goods: that’s the principle on which Swiss startup Yourasset was founded. The company has just announced it successfully completed its first external funding round, raising a USD 7-figure amount.
The platform aims to provide financing solutions for hard luxury goods, working with established banking partners at home and abroad. This round was led by international investor Moshe Schlisser, with participation of a Zurich-based Family Office and various angel investors.
The company is led by Stephan Kolz, Chief Executive Officer & Founder, Gabriel Tanguay, Chief Technology Officer, and Meera Anand, Chief Marketing Officer.
- The managing team of Yourasset: Stephan Kolz, Chief Executive Officer & Founder, Gabriel Tanguay, Chief Technology Officer, and Meera Anand, Chief Marketing Officer.
“This successful funding round is an important milestone for the company, and I am delighted with our team’s efforts to get us to the next level,” Stephan Kolz stated. “The question I asked at the outset was why other assets, such as real estate, cars and stocks can be financed, but not watches despite sharing similar characteristics. Yourasset corners the market in terms of creating an intuitive ecosystem around watch collecting, in a way that unlocks their equity capital while creating thus far non-existent options to finance one’s current collection, a first or next purchase.”
“Why can other assets, such as real estate, cars and stocks, be financed, but not watches despite sharing similar characteristics?”
Lead investor, Moshe Schlisser, added: “Immediately upon meeting Stephan and the Yourasset team, I was impressed with the comprehensiveness of their platform, and all the pain points it effectively solves for its users and partners. It is a privilege to bet on this team early on and I am looking forward to helping them disrupt the $100 billion per year watch industry.”
Yourasset is also a member of the Microsoft for Startups community in Switzerland, leveraging their IT infrastructure, Azure cloud technology and support, while collaborating on multiple levels to continue growing the company.
Through the platform, private users have the option to pay in full or finance their next watch purchase from partner sales channels. A one-time credit pre-approval allows for instant financing in-store and online. Users can also track their watch collection and view comprehensive statistics, managing all data in their secure login-profile. At start financing applies only to Swiss residents, but more countries will gradually be added.
For businesses, the platform provides varied, modular offerings tailored to the needs of watch brands, authorized retailers, preowned merchants, and auction houses. It proposes a seamless financing integration into their own channels or via the Yourasset’s platform, and acts as a transaction facilitator, leaving the customer journey between the brand and its client.