UK peer-to-peer yacht charter platform raises £1.5m in second round of crowdfunding

Borrow A Boat, the UK’s first peer-to-peer yacht charter platform, has announced the completion of crowdfunding which saw the company overfunded by 250% with £1.5m raised following its second round.

Future expansion plans include team growth, upgrades to the platform, a new app and increased market campaign spend, says the company in a statement.

Borrow a Boat is also on a drive to acquire new boats and is planning to expand into the higher end of the boat market with the launch of ‘Borrow a Boat Plus’ later this year.

“There is a lot of pent-up demand for boating,” says CEO Matt Ovenden. “So many more people would like to go boating but think it’s either too expensive or difficult to get into, whereas it really doesn’t need to be.

“We’re opening up boating and making it more accessible than ever with on-demand and on-location boating, accessible via app or web for boats of all sorts,” he adds. ”This is how we book and organise things in so many other areas of our lives nowadays and we expect the same level of flexibility and access in boating to everything else.”

Borrow A Boat currently operates in over 50 countries, providing access to more than 17,000 boats. The company, which launched at the 2016 London Boat Show, describes itself as the UK’s first peer-to-peer yacht charter platform.

Borrow A Boat will be exhibiting at the upcoming Düsseldorf boat show in D-05 Stall 13.