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Borrow A Boat

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The award-winning boat charter marketplace. Borrow from 45,000 boats worldwide in more than 65 countries.

190%
 - 
Funded 27 Jun 2022
£750,011 target
£2,937,048 from 660 investors
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Business overview

Location Chelmsford, United Kingdom
Social media
Website www.borrowaboat.com
Sectors Travel, Leisure & Sport Digital Mixed B2B/B2C
Company number 10490013
Incorporation date 21 Nov 2016
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Investment summary

Type Equity
Valuation (pre-money) £25M
Equity offered 5.40%
Tax relief

EIS

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Business highlights

  • UK's leading boating marketplace, now expanding internationally
  • Record revenue and growth in 2022*
  • 3 acquisitions completed in the last 12 months
  • Boating and travel sectors growing fast, and moving online
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Key features

  • Secondary Market
  • Nominee investment min. £24.37 +

Idea

Introduction

Borrow A Boat is the UK's leading boat charter marketplace, with an offering of over 45,000 boats in more than 65 countries.

Often called "the Airbnb of boats", Borrow A Boat pioneered peer-to-peer boat charter in the UK, and now provides access to a huge number of charter boats globally which can be searched by region and filtered and booked online.

From day hire rentals in top locations to 7-day boat and yacht charters to superyacht and luxury crewed sailing trips, Borrow A Boat offers access to all kinds of boats and yachts of all sizes, all available on the website and app at the touch of a button.

Part of a vanguard of companies building the marketplace for boating that the world needs, Borrow A Boat has growth momentum and a track record of strategic acquisitions of competitors. With a skilled and experienced team on board for growth, Borrow A Boat aspires to be the world's leading boat charter marketplace worldwide, and plans an IPO in the not-too-distant future.

Substantial accomplishments to date

- Founded in 2016 by serial entrepreneur Matt Ovenden with £4.8m in capital raised to date, Borrow A Boat is the UK's leading boating marketplace.- VC Edition Capital are a keen supporter and investor.

- In 2019 Borrow A Boat was the headline sponsor of the UK's biggest boat show - the Southampton Boat Show powered by Borrow A Boat

- Borrow A Boat raised capital twice in 2021 as the world emerged from the pandemic and completed an acquisition of London-based luxury charter broker, Helm to bolster the team's capability.

- In 2022 booking revenues have been at record levels hitting over £1m for the first time*.

- Two further acquisitions have been completed in Q1 2022, including leading Dutch boating platform Barqo, and UK boat rental site Beds On Board bolstering user accounts, and boat inventories along with revenues.

- An IPO is planned for late 2022 or 2023.

*Based on unaudited management accounts

Monetisation strategy

Borrow A Boat earns commission on each charter booked, which is typically between 15-20%.

Private boat owners, and charter companies can list boats for charter on their terms, and the Borrow A Boat platform, which ranks high on Google, and consistently draws high traffic numbers drawing in customers to book the boats online from many countries worldwide.

Use of proceeds

This round is to boost capital for growth, with Borrow A Boat planning launches into Italy, Germany, Spain and France before the end of 2022, and a bespoke marketing strategy for each country. A host of additional tech enhancements and features are also planned to further hone the technology and UI & UX for users.

Investment is predominantly in the aspects of the marketing strategy by region, and growing the team of software developers.

Key Information

Share classes

The company has a number of classes of share with varying voting rights and obligations;

A shares: voting ordinary shares
B shares: non-voting ordinary shares
C Shares: voting ordinary shares, with a right to preferential repayment in an exit below £5m. They participate pro-rata to other shares on returns greater than £5m.
D shares: voting ordinary shares, held by founders, containing certain founder obligations
E shares: non-voting ordinary shares shares, held by employees, containing certain employee obligations

Investors in this campaign will receive C Ordinary shares.

Loan

The company has a £30K government Bounce Back Loan with repayment over 5yrs beginning in 2021.

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If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for Borrow A Boat has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 19 May 2022 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £24,999,292

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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