Borrow a Boat Raises $3.6 Million for Yacht-Rental Service: Travel Startup Funding This Week
Photo Credit: If you can't afford a yacht, rental services like Borrow a Boat are part of the sharing economy. Credit: Luke Bender/Unsplash. Unsplash / Luke Bender
Skift Take
In a quiet week for travel tech fundraising, highlights include a 3 million pound crowdfunding for a service that lets consumers rent a yacht to feel like, well, a yacht owner. Slowing venture capital returns may be a caution flag for deals later this year.
Who doesn't want to feel like a yacht owner sometimes? The spray in your face, the wind that would be in your hair but for your spiffy cap. The confidence that comes from knowing you can afford — oh, wait.
For the rest of us, the news is that U.K-based Borrow a Boat announced it just raised 3 million pounds ($3.65 million) in a crowdfunding campaign. That brings the total funding of the five-year old business to 7.8 million pounds, all crowdfunded. The latest deal was for five times as much as the company initially planned to raise, Borrow a Boat said.
“We have always believed that boat rental should be as easy as booking a hotel, flight or train, so we could see t
