Sunday, March 18th, 2018

Borrow a Boat Raises £470k in Equity Investment

borrow a boat

For as long as anyone can remember boating has been perceived as the preserve of the wealthy.

Now Borrow a Boat the UK’s first peer-to-peer charter online platform is on a mission to change all that

High upfront costs to buy boats are compounded by high running costs, which are typically 10% of the cost of a boat.

Yet paradoxically, those fortunate enough to own a boat find that they hardly ever use them, with many boats rarely leaving their marinas.

The company launched publicly at the London Boat Show 2017, having been started in the year preceeding that. Since then has been growing fast, currently listing over 13,000 boats in 60 countries, as well as completing two successful rounds of crowdfunding to cement their position at the forefront of the new yacht charter sharing economy.

Borrow a Boat is opening up boating making it more flexible and accessible, and not only provides the Mediterranean and Caribbean sailing holidays often favoured by families, but also a range of motor yachts and river boats across the world, from Thailand and Myanmar to the Norwegian fjords and Cornwall, and boats are available for short durations, at short notice, and with or without skippers on board.

Unlike boat clubs Borrow a boat works somewhat like AirBnB

Following the crowdfunding appeal on Crowdcube Borrow a Boat secured 700 investors and raise £470k in equity investment in just over on month, the company is looking to the future following a very promising first year.

Affordability, accessibility and maximum choice and flexibility are the core philosophies of Borrow a Boat and key accelerators of the global sharing economy that the platform champions.

Borrow a Boat offers flexible duration bookings and time on board, offering short stays, long trips and last minute bookings, a unique selling point for the platform’s customer base who seek experiential travel that suits their lifestyle.

Borrow a Boat aims to embracing the sharing economy, pioneered by the likes of Airbnb, Uber, and others and open up boating to make it more accessible and easier to access for the masses.

It seeks to get more people involved with boating and sailing holidays by bringing more choice of boats and a greater variety of locations to the charter market.

The company claim to be building up its database of boats, and are seeking to have all kinds of boats, in as many locations as possible.

Everything from a RIB or small day boat, to a holiday yacht, motor cruiser or luxury superyacht. We are bringing a mixture of privately owned, managed boats and charter boats, providing maximum choice for the consumer.

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