Iguana Yachts, a French builder of amphibious boats, has raised more than €2m in capital from Normandie Participations – an equity financing firm backed by AD Normandie in France. The funding will allow Iguana to accelerate product development and strengthen its international presence.

Normandie Pariticpations’ founder and longstanding investors have been joined by a pool of new investors – Pierre-Noël Luiggi, president of Oscaro, via his investment fund Indenoi; Pierre Kosciusko-Morizet via his fund Kernel Investissements; and Dan Vogel, founder of Enablon and business angel.

“Iguana has pioneered and developed a modern and elegant amphibious boat that opens up new sailing opportunities,” says Vogel. “I am happy to reinvest in a capital round that will enable Iguana to accelerate its development throughout the world.”

Based in Caen, Normandy, Iguana Yachts designs, develops and manufactures luxury amphibious boats that have a unique patented track system integrated into the hull of the vessel. Today more than 30 units have been sold to Japan, Malaysia, Australia, Bahrain, the UAE, UK, France, Greece, Nigeria, Morocco, USA, Canada, Saint Martin and the Virgin Islands.

After seeing double-digit progression for the last five years, the company wants to further accelerate its growth by selecting new international distributors and by expanding its range of boats. The yard currently exports around 75% of production.