Yanmar America yesterday announced that it acquired a majority stake in rental and charter company GetMyBoat. The transaction injects $21 million in Series B capital into the company.
Yanmar initially invested in GetMyBoat in March 2018.
The heart of GetMyBoat ’s operation is an online platform that is accessible with mobile apps for iOS and Android devices, as well as through getmyboat.com.
“Yanmar is continuing its commitment to using advanced technology to transform into a consumer-focused brand via this acquisition,” chief strategy officer Shiori Nagata said in a statement. “Together, we’re not only shaping the next generation of marine recreation, but also reaching future generations of consumers globally.”
GetMyBoat said it has grown its net revenues by a factor of more than 10 since 2019 and expanded its platform to 150,000-plus boats and “water experiences” across 9,300 destinations. Yanmar said the company is on track to send 2 million people boating before the end of 2022.
“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,” GetMyBoat CEO and co-founder of Sascha Mornell in the statement.
GetMyBoat will continue as a standalone entity run by the current executive team.