Boat rental marketplace, Borrow A Boat, has raised more than a million pounds through a crowdfunding campaign on Seedrs.
The U.K-based company set out to raise £750,000 but surpassed that target in 24 hours with the total currently standing at more than £1.1 million.
Borrow A Boat, which launched in 2017, previously raised £1.1 million via a crowdfunding campaign on CrowdCube last November.
The company has made several acquisitions in recent months including Amsterdam-based peer-to-peer boating marketplace Barqo and U.K.-based accommodation provider Beds on Board in early March 2022.
Borrow A Boat, which was set up to make boating more accessible, affordable and flexible, is one of a number of new entrants looking to take a slice of the global charter market that is estimated to be worth $30 billion by 2027.
The company says it is planning a public listing in 2023.
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Matt Ovenden, founder and CEO of Borrow A Boat, says: “We are living through a revolution in marketplaces, and believe this should extend to the boating world. Renting a boat should be as easy as booking a hotel, flight or train.
"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."