Borrow A Boat exploring IPO

Britain’s leading boat rental and yacht charter marketplace has confirmed its intention to launch an initial public offering following its latest round of crowdfunding. 

Borrow A Boat has launched a £750,000 crowdfunding round with British investment crowdfunding platform Crowdcube, and says it is in the early stages of exploring a potential initial public offering with Aquis Exchange for 2022 – a world first for a boat charter marketplace according to the charter company.

Founded in 2016, Borrow A Boat has grown to offer the largest boat charter marketplace worldwide. The company now lists over 35,000 boats in over 65 countries, covering popular destinations including the Mediterranean, North America, the Caribbean and South East Asia.

Rapid expansion over the last five years has seen Borrow A Boat raise over £3.8 million in capital, from a mixture of crowdfunding, private investors and venture capital investors.

CEO & founder of Borrow A Boat, Matt Ovenden, says: “Following an extremely testing year for the travel industry, we’re thrilled to be in a position to offer investors the opportunity to get on board and invest in the rising popularity of boating across the globe. Our partnership with Crowdcube means that we will have access to a diverse group of investors, who in turn will be able to join us in bringing the joy of boating to the masses.”

Ovenden announced his plans for the new round of crowdfunding earlier this year after acquiring charter business Helm for an undisclosed sum.

Founded in 2016 and launched in 2017, Borrow A Boat offers peer-to-peer listings as well as boat rental through traditional charter companies. On a mission to make boating more accessible, affordable, flexible, and inclusive, Borrow A Boat pioneered peer-to-peer boat charters, helping boat owners generate extra income from their vessel and reducing the high costs of boat ownership, including maintenance costs and marina fees.