Subdial Raises $20 Million to Accelerate US Expansion
UK-based luxury watch-trading platform Subdial is raising $20 million to strengthen its presence in the United States, targeting growing demand in the world’s largest secondary watch market. The latest funding round is being led by venture capital firm Gresham House Ventures, with participation from existing investor Active Partners and Watchfinder founder Stuart Hennell. The deal also includes a debt facility from a British lender expected to be completed shortly.
Founded in 2018 by Christy Davis and Ross Crane, Subdial specialises in buying and selling pre-owned luxury watches online. The company currently trades nearly $100 million worth of timepieces annually, marking a 74% year-on-year increase, and serves more than 100,000 collectors. Its platform tracks nearly $1 billion worth of watches and powers the Bloomberg Subdial Watch Index, which monitors the 50 most-traded timepieces by transaction value. The global secondary watch market is estimated at $28 billion, with North American second-hand watch transactions reaching approximately $4.5 billion in the first half of 2026, an increase of nearly 70% year-on-year.
Subdial plans to use the fresh capital to support further growth in the UK and establish a presence in New York by September 2027, potentially in Manhattan’s Meatpacking District. Co-founder Christy Davis is also expected to relocate to the city to lead the expansion. The move will intensify competition with established players such as Watchfinder, owned by Richemont, Germany’s Chrono24, and US-based specialists The 1916 Company and Bob’s Watches.
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