Overfunding: Discovery Yachts Club Quickly Secures £750,000 Funding Target on Crowdcube

Less than a week after launching its equity crowdfunding campaign on Crowdcube, UK-based Discovery Yachts Group has successfully secured its initial £750,000 funding target and is now nearing £855,000 thanks to more than 125 investors. Formed in 2017, the boating company stated it has created four handcrafted yacht ranges priced from £225k to £2.7 million:

  • Discovery (Founded 1998 with MBO in 2017): Established ‘go anywhere’ luxury yacht brand
  • Southerly (Founded 1975 & bought in 2017): Premium yachts with one of the industry’s best swing-keel configuration
  • Bluewater (Founded in 2017): Luxury catamarans focusing on high growth category
  • Britannia (Launching 2018): Flagship range with classic superyacht styling

The group then reported that each yacht is hand built in the UK by its team of highly skilled artisans. Each are also made to order and enables customers to sail away without “compromise” in their home from home. Each yacht offers push-button sailing, effortless handling for confident world-class cruising.

“The global boat industry saw a 4.4% increase in sales for 2016 compared to 2015 and that figure is expected to continue rising. Discovery currently have 9 yachts in build and have grown their order book by substantially over 300% this financial year to over £11 million. There are 3 new models currently in development, 4 new global sales ambassadors and the workforce has doubled since April 2017 to over 100.”

All funds from the Crowdcube will be used for growth and development. The company’s “pillars” for further growth include:

  • Grow capacity to meet pent-up demand
  • New product development including the Britannia range
  • Increase global sales through sales ambassadors and events
  • Develop marketing and digital offer

The funding round is currently set to close at the end of February.

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