month after its last acquisition, London-based boat rental platform Borrow A Boat is expanding again – this time
with the acquisition of a company that offers boats as an alternative
accommodation. Terms of the deal have not been disclosed.
Beds on Board is a U.K.-based peer-to-peer
platform connecting boat owners with people who want to stay on a boat without
using it in open water.
acquisition adds 5,000 boats to Borrow A Boat’s marketplace, bringing its marketplace
to more than 45,000 boats in more than 65 countries. The company says it will
be inviting the Beds on Board boat owners to offer both static and standard
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“The acquisition of Beds on
Board is a huge milestone for us. There are a number of synergies between the
two businesses – both having been founded with the goal of making boating more
accessible, affordable, flexible and inclusive for all,” says Matt Ovenden, founder
and CEO of Borrow A Boat.
“Opening up otherwise vacant
boats for static charters satisfies the pent-up demand for city-breaks and
staycations, while offering customers a more unique and memorable experience
than traditional overnight accommodation options.”
Founded in 2016, Borrow A Boat
has raised more than £4.8 million in capital from a
mixture of crowdfunding
and private and venture capital investors. The company is considering an IPO
for later this year.
Beds on Board
was founded in 2015. Unlike traditional chartering, static charters do not require
the user to have a boating license.