New fund raising
The start-up specialized in online boat rental Click&Boat announced the success of its latest fundraising. This is the 2nd operation of its kind for the company created in September 2013. While it had already raised 1 million euros in 2016, this time it obtains 4 million euros to continue the development of the company, including with Olma Private Equity Fund already present in the capital.
Accelerating international growth
The new funds obtained from investors should allow Click&Boat to consolidate its international position, says Edouard Gorioux, co-founder of the company. "The fundraising will allow us to acquire competing companies internationally to accelerate our growth. We already offer a fleet of boats in the main sailing basins, in the Mediterranean, the Caribbean, but also in the Seychelles or in Miami . Our investments will focus on our existing markets. They will allow us to acquire new customers in Europe and the United States."
A profitable model
Click&Boat's management insists on the efficiency of its business model, stating that it has reached profitability as early as 2015, in only 2 years. Interviewed by BoatIndustry, Edouard Gorioux explains that the integration of professional renters to the platform in 2017, which had started as a site for private renters only, did not respond to a lack of profitability. "Professional boat renters now represent just under 50% of the offer. They were responding to a need to expand the offer to accelerate growth and not to a profitability objective. The latter is achieved through the tool. From the start, my partner Jérémy Bismuth and I worked hard to automate the tasks. We double our turnover every year, while having a profitable model for more than 3 years. For us, this is proof that our growth is based on a healthy and scalable model, which we want to duplicate on new markets."
