Yanmar is the lead among a group of investors that will provide US$10m in funding for GetMyBoat, a US-based boat rental and sharing website. The company claims it is the world’s largest boat and watercraft rental site, with 108,000 listings in 184 countries.
The company said that the agreement includes a strategic partnership with Yanmar Marine International. “As part of our search for the strongest and most innovative, technologically advanced platform, GetMyBoat was clearly our partner of choice,” said Shiori Nagata, president Yanmar Marine International, in a statement. “Yanmar and GetMyBoat are perfect partners to facilitate allowing more people to experience the water and to explore the future of the global recreational marine industry.”
GetMyBoat was launched in 2013 and has never raised outside capital. As part of the strategic partnership between GetMyBoat and Yanmar, Nagata will join the GetMyBoat board of directors. The investment will be used to strengthen GetMyBoat’s leadership position in the United States, accelerate growth in both Europe and Asia, as well as grow both the platform and product.