Borrow a Boat Aims to Raise £750K on Seedrs, Quickly Nears Initial Goal

Borrow a Boat, a marketplace for boat charters, is raising capital on Seedrs and the securities offering has almost hit its initial goal of £750,000.

Borrow a Boat is pitching equity at a pre-money valuation of £25 million representing 2.91% ownership stake. The securities will be secondary market eligible. As it stands today, Borrow a Boat has received over £618,000 in commitments from 133 individual investors.

Described as the “Airbnb of boats” the company claims more than 45,000 boats available in 65 different countries. Available boats range from a day rental to works, from small boats to superyachts. In the last 12 months, Borrow a Boat has acquired three competitors; Barqo, Beds on Board, and Helm, thus shoring up its competitive spot in the market.

Matt Ovenden, CEO and founder of Borrow A Boat shared in a release that there is a revolution in marketplaces that should extend to the boating world.

“Renting a boat should be as easy as booking a hotel, flight or train,” said Ovenden. “We, as a business, have made huge strides forward in the last six months – continually smashing our all-time sales records month-on-month towards the end of 2021 and we’re now, in 2022, consistently clearing one million a month in revenue. This Seedrs fundraise will help fuel our continued growth, with expansion into new countries – Italy, France, Germany and Spain – which we hope to complete by the end of the year. We will also be investing in tech enhancements – substantial UI, UX and automation operator plans in order to keep up with our fast-growing business revenues.”

Launched in 2017, Borrow A Boat wants to make boating more accessible. Its peer-to-peer charter service allows boat owners to offset the high costs of boat ownership while offering consumers more affordable and flexible boating experiences. Boat rentals start at just £40 a day and go up to £10,000 a week.

Borrow a Boat previously raised capital on Seedrs in 2021 in a convertible security at a 50% discount. At that time. the company raised £499,000 from 382 investors – topping its £250,000 target. Approximately 47% was contributed via the Future Fund. The company adds that it raised £1.5 million in 2021 and it hopes to pursue an initial public offering in 2023.


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