Yanmar invests $21 million in boat rental company
Yanmar Holdings has announced that its subsidiary, Yanmar America, has acquired a majority stake in GetMyBoat, the world’s largest boat rental and water experience marketplace, and injected $21 million in growth capital as part of the Series B round.
The funding from Yanmar America will be used to expand the GetMyBoat team and accelerate international growth plans as travel markets reopen, with the company on track to send 2 million people boating before the end of 2022. GetMyBoat will continue to be run by the current executive team as a stand-alone entity.
Launched in San Francisco in 2013, GetMyBoat operates 150,000 listings in 184 countries and connects boat owners and captains to customers seeking boat rental and charter.
Yanmar, with its HQ in Osaka, Japan, has been working with GetMyBoat since its initial investment in March 2018.
Shiori Nagata, Chief Strategy Officer for Yanmar, sees GetMyBoat as the key player in the growth of the recreational boating industry.
“GetMyBoat is the world’s leading marketplace for boat rentals and water experiences, and shares Yanmar’s desire to deliver rich and fulfilling experiences to its customers.
“Yanmar is continuing its commitment to using advanced technology to transform into a consumer-focused brand via this acquisition. Together, we’re not only shaping the next generation of marine recreation but also reaching future generations of consumers globally.”
Shiori Nagata – Chief Strategy Officer for Yanmar
Yanmar expects the GetMyBoat acquisition and growth capital to help drive its digital transformation across its diverse business domains, while offering the opportunity to identify and monitor developing trends in the recreational marine industry. Yanmar has noted it has no intention to change GetMyBoat but rather will assist in the company’s global ambitions as the established and dominant player in the industry.
Sascha Mornell, CEO and Co-Founder of GetMyBoat, said:
“Working closely with Yanmar during the past four years has been an incredible experience. Yanmar recognised very early the vision, and reality, of GetMyBoat.
“We mutually share a passion to democratise boating globally. Having Yanmar’s support, partnership, and growth capital will give us the opportunity to truly realise this dream. The future ahead for GetMyBoat and Yanmar working together is very bright.”
Sascha Mornell – CEO and Co-Founder of GetMyBoat