Boat rental and yacht charter marketplace Borrow A Boat has completed third crowdfunding round raising £1m
British boat rental and yacht charter marketplace, Borrow A Boat, has today completed their third crowdfunding campaign, securing £1,056,264 in investment from 916 investors and surpassing their £750,000 target by £306,264. The boat charter marketplace has now raised over £4.8m through Crowdfunding.
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: “We are absolutely delighted to be closing our third crowdfunding round with an over-investment from the CrowdCube community taking our total raise to £1,056,264. This third round will pave the way for future growth and acceleration, allowing us to explore a potential initial public offering for the business in 2022, a world first for a boat charter marketplace. We’d like to formally thank each of our 916 investors for investing in Borrow A Boat and joining us in making boating more inclusive, affordable and accessible to all.”
Founded in 2016 and launched in 2017 by entrepreneur Matt Ovenden, Borrow A Boat has access to over 35,000 vessels in 65+ countries, and offers peer-to-peer listings as well as boat rental through traditional charter companies. On a mission to make boating more accessible, affordable, flexible, and inclusive, Borrow A Boat pioneered peer-to-peer boat charters, helping boat owners generate extra income from their vessel and reducing the high costs of boat ownership, including maintenance costs and marina fees.