Borrow a Boat continues global expansion into France

Conor Feasey
By Conor Feasey August 19, 2022 16:41

Borrow a Boat continues global expansion into France

Borrow a Boat is expanding its digital charter marketplace to the French market ahead of the Cannes Yachting Festival next month. This comes after the company reported its ”busiest season ever” of more than  4,500 clients renting vessels over the summer.

Founded in 2016, Borrow A Boat has access to 45,000 vessels, including superyachts of more than 250ft (76m) in length, in over 65 countries, earning 15-20% commission on each charter booked. Clients can rent vessels such as 279ft (85m) O’Ptasia (pictured) for $116,647 a day.

Over the past year, the company has expanded, into Australia, New Zealand, Canada, and the US. It also acquired competitors Helm, Barqo and Beds on Board in the process.

Matt Ovenden, founder and CEO, Borrow A Boat, said: “We felt a launch into France – one of the most popular boating destinations in the world – was the natural next step.” 

In June, the company launched a crowdfunding initiative with a goal of £750,000 ($886,275) with London-based investment firm Seedrs. The move raised  £2,937,048 ($3,472,415) from 660 investors. An IPO is planned for late 2022 or 2023.

“Despite launching this round amidst the backdrop of increasing interest rates, inflation and the risk of recession, we have now successfully completed our biggest ever raise, bringing our lifetime crowdfunding total to £7.8m,” said Ovenden.

The Borrow A Boat team will be at Cannes Yachting Festival, September 6th-11th at Palais Stand 058. Its luxury yacht broker Helm, acquired in 2021, can be found at stand Broker 11.

Conor Feasey
By Conor Feasey August 19, 2022 16:41