Leading UK boat charter and yacht charter Borrow A Boat has acquired Beds on Board, the sharing economy platform that connects customers and owners for static charters (boat rentals other than sailboats).
Acquisition, part of Borrow A Boat’s continued growth, brings over 5,000 additional boats and over 30,000 users to the leading boat rental market and strengthens the company’s position as the largest yacht charter market in the UK, while bringing unprecedented flexibility and inclusiveness to the yachting world.
Borrow A Boat will also invite owners of Beds on Board boats to register on Borrow A Boat, allowing them to offer static and standard charters.
Launched in 2015, Beds on Board is a peer-to-peer platform connecting boat owners and accommodation seekers wanting “another way to stay”. This allows boat owners to monetize their otherwise vacant boat, helping to offset ownership costs while providing customers with accommodation at competitive prices. And, unlike traditional charter, no license is required with static charters.
Borrow A Boat, the world’s largest boat rental marketplace, now has access to over 45,000 boats in over 65 countries. Founded in 2016, the company has grown rapidly since inception and has raised over £4.8m in capital from a mix of crowdfunding, private investors and venture capitalists. Borrow A Boat is now planning a potential IPO in 2022, which will be a world first for a boat rental market.
CEO and Founder of Borrow A Boat, Matt Ovenden, said, “The acquisition of Beds on Board is an important step for us. There are a number of synergies between the two companies, both founded with the goal of making boating more accessible, affordable, flexible and inclusive for everyone.
“Opening otherwise vacant boats for static charters addresses pent-up demand for city breaks and staycations, while providing guests with a more unique and memorable experience than traditional overnight accommodation options.
“This is just the first of many exciting announcements this year, and we look forward to revealing more milestones later in the year.”