The online boat rental start-up Click&Boat has announced the success of its latest fundraiser. This is the second operation of its kind for the company created in September 2013. While it had already raised 1 million euros in 2016, this time it obtained 4 million euros to continue the development of the company, in particular with Olma Private Equity Fund already present in the capital.
Accelerating international growth
The new funds obtained from investors should enable Click&Boat to consolidate its international position, says Edouard Gorioux, co-founder of the company. "Fundraising will enable us to acquire international competitors to accelerate our growth. We already offer a fleet of boats in the main shipping basins, in the Mediterranean, the Caribbean, but also in the Seychelles or in the Mediterranean Miami . Our investments will focus on our existing markets. They will enable us to acquire new customers in Europe and the United States."
A cost-effective model
Click&Boat's management insists on the effectiveness of its business model, stating that it has achieved profitability as early as 2015, in just 2 years. Asked by BoatIndustry, Edouard Gorioux explained that integration of professional rental companies into the platform in 2017, which had started as a site intended only for private rental companies, did not respond to a lack of profitability. "Today, professional boat rental companies represent a little less than 50% of the offer. They responded to a need to expand supply to accelerate growth and not to an objective of profitability. This one goes through the tool. We worked a lot from the start with my partner Jérémy Bismuth to automate the tasks. We double our turnover every year, while having a profitable model for more than 3 years. This is proof to us that our growth is based on a healthy and scalable model, which we want to replicate in new markets."