Deal comes as part of a $21 million Series B funding round
GetMyBoat investor Yanmar takes majority stake in boating marketplace
by Kaia Hicks
GetMyBoat backer Yanmar Holdings has taken a majority stake in the company and invested $21 million as part of a Series B round.
The investment in boat rental and water experience marketplace will drive international growth and digital transformation, Yanmar said.
The latest investment comes via its US subsidiary Yanmar America. GetMyBoat will continue remain a stand-alone firm run by the current executive team.
Osaka-based Yanmar is a global leader in the marine industry and originally invested in GetMyBoat when it was founded in 2018.
During the COVID pandemic, GetMyBoat has seen ten times net revenue growth and expanded its platform to over 150,000 boats and water experiences in 9,300 destinations.
The firm is seen by Yanmar as positioned to benefit from the growth of the recreational boating industry, with the company on track to send two million people boating before the end of 2022.
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.
Shiori Nagata, chief strategy officer for Yanmar, said: “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.”
Sascha Mornell, chief executive and co-founder of GetMyBoat, said: “Working closely with Yanmar during the past four years has been an incredible experience.
“Yanmar recognized very early the vision, and reality, of GetMyBoat. We mutually share a passion to democratize boating globally.
“Having Yanmar’s support, partnership, and growth capital will give us the opportunity to truly realize this dream.
“The future ahead for GetMyBoat and Yanmar working together is very bright.”