Leading boat rental and yacht charter marketplace Borrow A Boat has sailed past funding target
Britain’s leading boat rental and yacht charter marketplace, Borrow A Boat, has today sailed past its funding target, securing over £750,000 from 686 investors, with eight days still to go, marking a major milestone in its latest crowdfunding round.
Borrow A Boat opened the round to the 1.3million users of crowdfunding platform Crowdcube in October, having already received £448,495 in investment from 138 investors and follows accelerating growth and revenues in 2021, due to a rebounding market, expansion into several new countries, including the USA, as well as the acquisition of competitor Helm.
The crowdfunding round will remain open for further investment for a limited time. Funds raised will allow Borrow A Boat to build for further growth in 2022 and continue global expansion; with plans also including a potential 2022 initial public offering with Aquis Exchange – a world first for a boat charter marketplace.
The ‘Airbnb of boats’, Borrow A Boat is part of the vanguard of companies digitising the large and maturing global charter market, set to be worth $30bn annually by 2027. One of the pioneers of peer-to-peer charter since 2017, Borrow A Boat is on a mission to make boating more accessible, affordable, flexible, and inclusive for all, to help drive participation, and make chartering a boat simpler.
CEO & founder of Borrow A Boat, Matt Ovenden, said: “Hitting this milestone is a huge moment for us, with eight days left to go we have already surpassed our funding target and so are looking forward to what the next week has in store for us.
“The success of this funding round paves an exciting path for our exploration of an initial public offering with Aquis Exchange in 2022 and supports our aim of making boating more accessible, affordable, flexible and inclusive for all.”
For more information on Borrow A Boat, visit www.borrowaboat.com.
For more information on Borrow A Boat’s Crowdcube raise, visit www.crowdcube.com/borrowaboat