Company: Barqo, Borrow A Boat
Business Type: Boat Hire
UK & International Business Sales and M&A News
London-based Borrow A Boat, a boat hire and yacht charter marketplace, has acquired Barqo, an online platform for domestic boat rental.
Borrow A Boat is a yacht and boat rental portal for boat owners and charter companies. Established in 2016 by Matt Ovenden, it currently lists over 35,000 boats in more than 65 countries, and has raised over £4.8M in funding to date from a mixture of crowdfunding, private investors, and venture capital investors.
The acquisition and expansion in European markets for Borrow A Boat follow its launches in the US, Canada, Australia, and New Zealand in 2021, as well as the acquisition of specialist charter brokerage Helm. With Barqo on board, the company will bring an additional 5,000+ boats to the marketplace for peer-to-peer (P2P) boat charter, as well as a 100,000+ strong customer base.
Ovenden commented:
“After a successful 2021, including securing over £1M in investment via crowdfunding, we’re thrilled to have kicked off the year with such a firm move into the European market.
“This acquisition further reinforces our position as one of the world’s leading yacht charter marketplaces and we’re looking forward to seeing what the rest of 2022 brings.”
Matt Ovenden - Founder of Borrow A Boat
Founded in 2014 by Thijs Janssen, Dennis van Kappen, and Floris van Hoogenhuyze, Barqo is a P2P boat-sharing platform in the Netherlands. In June 2021, Barqo struck a deal with Samboat, a Bordeaux-based online marketplace for P2P boat rentals and yacht charters, to create the most active and largest range of boats in Europe.
Janssen sees the acquisition as a time for further growth across Europe.
He said:
“This acquisition will strengthen Barqo’s position in the Dutch market and will fuel the growth into other European markets, thanks to the high level of synergy that our companies have together. Our system and Borrow A Boat’s ambition are a very good match.”
Thijs Janssen - Co-Founder of Barqo
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