savvy navvy gets ready to launch crowdfunding round

Navigation app, Savvy Navvy is getting ready to launch its next and possibly last crowdfunding round.

Pre-registration is now taking place to invest in the app, often referred to as ‘Google maps for boats’, following its most successful year to date, which saw the company doubling its annual recurring revenue to £1.5m by the end of 2022.  

“Last year, during the end of the summer, we were cash flow positive, and we are now firmly knocking at the door of profitability, so as a company, we’re moving into a new phase,” says Jelte Liebrand, founder and CEO of Savvy Navvy. “While our core product is targeted at boaters, last year we expanded that to paddleboarders, kayakers and jet-skiers too. With this funding round, we will be looking at launching our enhanced version of the app to get even more people safely out on the water.

“We are also working more closely with marine agencies and other stakeholders, as we are building one of the most insight-rich platforms on boating behaviour. So far, 2023 is already looking promising and we are excited to get more investors on board ahead of turning our focus onto this year’s boating season.”

Previous crowdfunding rounds raised £3m in total on the investment platform Seedrs by more than 1,800 investors, including the founders of Kahoot.

Having just returned from boot Düsseldorf, ex-Google software engineer Jelte says interest in the app is more prominent than ever.

“We’ve hit close to a million app downloads and walking around the exhibition the past days in our Savvy Navvy jackets, we were approached by so many users and industry partners. It’s of course exciting that they recognise us and understand what we are doing to innovate and simplify boating technology by making navigation safe and easy for everyone. 

“The first time we did a crowdfunder we overfunded in 24 hours. As long as the product is sound, your plans are sound and where you’re heading is sound, then I think there’s enough appetite out there to get more investors on board in perfect time ahead of this year’s boating season. We of course hope many more will join us as we head into the next phase of growth and innovation.”

The Poole-based entrepreneur won the Great British Entrepreneur of the Year Award for the South West last year (November 2022) and in December 2022 the company joined forces with Quad Lock and Beyonder to enhance boaters’ experiences on the water.

Pre-registration for the next crowdfunding round is now open and can be accessed via the Savvy Navvy website.