Borrow A Boat, the UK’s top yacht charter and boat rental marketplace, has closed the most profitable crowdfunding campaign to date securing the sum of PS3,017,030 with 670 investment partners.
The increase brings the company the total of its lifetime crowdfunding to more than PS7.8 million.
The energy bill is soaring and will be going to be around for the long haul.
The company was established in 2017. Borrow A Boat has access to more than 45,000 boat rentals and yacht charters across more than 65 countries, including the UK as well as the Mediterranean and the Caribbean, North America, and South East Asia.
The increase follows rapid growth and revenue growth in 2022, as well as expansion into new markets and three acquisitions within the last twelve months from competitors Helm, Barqo and Beds on Board. The company is in the process of working on a first in the world market for boats charters and is preparing to go public.
Matt Ovenden, CEO & the founder Borrow A Boat, Matt Ovenden’s CEO and Founder Borrow A Boat states: “In 2017, when Borrow A Boat was first launched the industry of yacht charter was in decline.
“Despite the fact that we launched this round against the backdrop of growing inflation, interest rates and the threat of recession, we’ve achieved our largest ever fundraising round, which brings our total crowdsourcing total at PS7.8 million.
“The enormous achievement of this crowdfunding which was 402 percent over the target is a clear acknowledgement of our expansion and progress toward our goal of making boating more accessible to everyone. It demonstrates the backing from investors, in support of our plans to expand the market globally.
“Going forward we will continue to innovate and disrupt – true to our mission to make boating more accessible, affordable, flexible and inclusive for all, to help drive participation, and make chartering a boat simpler, wherever you are in the world.”