'Google map for boats' savvy navvy celebrates overfunding from investors - Business Leader News

‘Google map for boats’ savvy navvy celebrates overfunding from investors

Jelte Liebrand, Founder of savvy navvy.

Marine technology company savvy navvy celebrates its fastest overfunding to date on investment platform Seedrs after opening its doors to investors, with offers still pouring in. The innovative all-in-one navigation app, often referred to as ‘Google maps for boats’, just launched their campaign and has already blown past their minimum £600,000 target.

The round is currently still open, but it may be the last chance for anyone who wants to own a piece of the marine tech company to come onboard in its possibly last crowdfunding round, after its most successful year to date.

By the end of 2022 the popular boating navigation app doubled its annual recurring revenue to £1.5m. The previous crowdfunding rounds run since 2019 proved hugely successful with more than three million pounds raised in total by more than 1,800 investors, including the founders of Kahoot.

    Jelte Liebrand, CEO & Founder of savvy navvy, commented: “In all our rounds to date, this is the fastest overfunding we’ve ever experienced and I’m blown away by the continued support.

    “We are knocking at the door of profitability and as a company we’re moving into a new phase. While our core product is targeted at boaters, last year we expanded that to paddleboarders, kayakers and jet-skiers too.

    “With this funding round we will be looking at launching our enhanced version of the app to get even more people safely out on the water.

    “We are continuing to overfund, but anyone who wants the opportunity to own a piece of savvy navvy will have to act fast to not miss out. What a great way to start 2023.”

    Interest in the navigation app, which ex-Google software engineer and avid sailor Jelte built from the ground up alongside his now 15-strong fully remote team – is more prominent than ever.

    Jelte added: “We’ve hit close to a million app downloads and users have plotted more than 100,000,000 miles around the world. Now in our sixth year here at savvy navvy, we are actively shaping the marine industry for the better and challenging the bigger navigation apps in the market.

    “This investment will help continue to drive these business and new technical innovations forward. We are also working more closely with marine agencies and other stakeholders, as we are building one of the most insight-rich platforms on boating behaviour.

    “It is a rare opportunity to play a part in shaping the future of sailing tech as we know it and we are so delighted to have our new investors on board as we head into the next phase of growth and innovation.”