Pre-owned watch retailer Watchfinder is looking for its second round of funding as it aims to invest millions in expansion into international markets.

The Maidstone-based company would likely be seeking a bigger sum than a £6.2 million investment it received in 2014, in exchange for 15% of the business, from venture capital firms Piton Capital and Beringea.

The retailer, which has sold £203 million of luxury watches since it launch in 2002, is looking to enter between three and five new territories during the next financial year.

It launched its US and Australian websites in January.

Servicing director Matt Bowling said: “We need significant investment in the company to fund international expansion. There is a lot of opportunity in America and the Far East.”

The company, which employs 115 people, is also hoping to use the investment to bring its business all under one roof.

At present, its Maidstone headquarters is divided between its original warehouse in Pudding Lane, near Fremlin Walk, and its 2,000 sq ft service centre at Albion Place.

Mr Bowling insists the company would remain in the Maidstone area but needs to find a larger premises with its workshops close to full capacity.

He said: “That is expensive and requires a lot of investment but it gives us the ability to grow our team of watchmakers to 12 or 15 and put in another five or six polishing machines.”

Turnover at Watchfinder, which has stocks of more than 3,200 timepieces, is forecast to nearly double this financial year to £60 million, which gives the board confidence it can attract a larger investment than the £6.2 million it got two years ago, although amount of equity it is prepared to sell has not been disclosed.

Mr Bowling added: “The company is a lot bigger now than when we went through the first round of funding and the opportunities available to us now are different to then. We have overcome some of the challenges we faced.

“Investors want to get as much as they can for their money and we want to get as much as we can for our company. It is not just about getting the money. We want someone to come in and make a contribution.”