Boataround: transforming the way boats are rented

Neither the Czech Republic nor Slovakia has access to the sea, yet a company from here has grown into one that provides people from all around the world with unforgettable boating holiday experiences and transparent rental price offers. The passion of one of the founders for yachting and both founders’ experience with establishing a global startup were behind the inception of Boataround. Jana and Pavel signed their first contract for their new booking portal with a business partner at a Croatian resort for 17 vessels. But with global ambitions from the outset, it quickly became clear they would have to find investors to help facilitate their expansion.

Crowdberry was recommended to the founders by acquaintances and they set out to attract investors only a year after establishing the company. And it worked. In two waves, they obtained capital in the amount of €1.15 million (approx. CZK 29 million) from a range of private investors. Trust was inspired mainly by the experienced team and its dedication to hard work, as well as the company’s very good financial results and business plan. Those who decided to get involved were primarily “smart investors”, who have been able to pass on their experience with building a global brand and can help Boataround in ways other than just providing capital. The Miton fund contributed an additional CZK 15 million.

According to both founders, the benefits provided by Crowdberry have proved invaluable. Pavel Přibiš sums it up briefly and accurately: “We credit Crowdberry as part of our success.” Jana Escher added: “We have experience with e-commerce and we know how to rent boats. Where finding financing and investment are concerned, that is the main added value of Crowdberry, which has guided us on the path to obtaining the necessary investment.”

Thanks to investments received in the early stage of the business, Boataround has been able to build the largest wholly owned catalogue of vessels. It offers customers a choice of approximately 24,000 boats in more than 1,300 destinations and 70 countries. Over 400,000 offers of boats are evaluated daily on the portal, where customers can also find reviews and verified photos of the boats. In 2021, the company planned to make more than 7,000 reservations in the total value of €25 million.

Boataround sailed through the coronavirus pandemic, which had a particularly severe impact on the overall travel industry. Rising demand for safe and extraordinary holidays is driving the market as a whole, a trend the company and Crowdberry investors are exploiting. In the third investment round in 2021, Boataround received growth investment in the total volume of €1.2 million (approx. CZK 30 million). The funds will be used for the company’s planned expansion to new markets and preparation of global Series A financing.

Thanks to our platform, a Slovak startup with initially only two people has become a global leader in its sector. This is not only from the company’s financial perspective, but also thanks to the passion of the team, which is constantly preparing something new and gaining greater favour among its growing customer base. For the 2021 season, this included experiences with locally hired captains.

It is already clear that Boataround has stirred the stagnant waters of its sector and is moving full sail ahead toward fulfilling the dreams of its founders, investors and customers.

The case study was developed in December 2021.