Borrow A Boat acquires counterpart boat rental platform Barqo

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UK/Netherlands: Borrow A Boat, the London-based boat and yacht charter marketplace, has announced the acquisition of an Amsterdam-based peer-to-peer service [P2P] counterpart to the Barqo boat-sharing platform.

The acquisition marks the next step in an expansion into European markets for Borrow A Boat, which has already launched in the United States, Canada, Australia and New Zealand. It brings over 5,000 additional boats to its marketplace and over 100,000 customers from its database, adding to Borrow A Boat’s 35,000+ boat listings in over 65 countries currently.

Founded in 2016 and launched in 2017 by entrepreneur Matt Ovenden, Borrow a Boat aims to make boating more accessible, affordable, flexible and inclusive for everyone, to encourage participation and simplify the boat charter process. boat. The company is among the vanguard of companies digitizing the vast global charter market, which is estimated to grow to $30 billion per year by 2027.

In addition to offering peer-to-peer listings and boat rentals through traditional charter companies, Borrow A Boat helps boat owners generate additional revenue from their vessel and reduce high costs owning a boat, including maintenance costs and marina fees. Boats of all kinds and sizes can be chartered, ranging from river and river boats to sailboats, motorboats, catamarans, luxury yachts and superyachts.

According to Ovenden, Barqo operates with the same mission of borrowing a boat after the Dutch company teamed up with Bordeaux-based online marketplace Samboat last June, creating one of the largest inventories of boats in one place in Europe.

Borrow A Boat founder Matt Ovenden said: “After a successful 2021, including securing over £1million in investment via crowdfunding, we are delighted to have kicked off the year with such a firm entry into the European market. This acquisition further solidifies our position as one of the world’s leading yacht charter markets and we look forward to seeing what the rest of 2022 has in store.

Barqo’s co-founder and CEO, Thijs Janssen, told siliconcanals.com: “This acquisition will strengthen Barqo’s position in the Dutch market and fuel growth in other European markets, thanks to the high level of synergy that our companies have together. Our system and Borrow A Boat’s ambition go together very well.

Having raised over £4.8 million in funding to date, including £750,000 [$1 million] crowdfunding round on Crowdcube last year, Borrow A Boat explores possible initial public offering [IPO] on the Aquis Exchange in 2022, which would represent a first global step for a boat rental market.

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