Yanmar has made a strategic investment in San Francisco-based boat rental company GetMyBoat
The investment includes funding and a strategic partnership between marine engine provider Yanmar Marine International and GetMyBoat.
GetMyBoat, which was launched in 2013, has over 108,000 boat rental listings in 184 countries, and more than 9,300 locations.
The company brings all types of water experiences to renters and allows boat owners to list every type of boat and watercraft for rent, from powerboats and sailboats to kayaks and jet skis.
This is the first time the company has raised outside capital.
As part of the strategic partnership, Yanmar Marine International president Shiori Nagata will join the GetMyBoat board of directors.
The investment will be used by GetMyBoat to further strengthen its leading market position in the United States, to accelerate expansion in both Europe and Asia, and to further grow the platform services for boat owners and renters.
“Against the aging population of boat buyers and boat owners, and the trend that more and more people prefer access to experiences, rather than ownership, boat sharing has huge potential to engage new audiences with boating and to grow the industry,” said Nagata in a statement.
“As part of our search for the most innovative on-demand sharing-economy platform, GetMyBoat, the world’s largest and fastest growing marketplace for boat rentals and water experiences, was clearly our partner-of-choice,” she said. “Yanmar and GetMyBoat are perfect industry partners to facilitate allowing more people to experience the water and to explore the future of global recreational marine.”
GetMyBoat CEO and cofounder Sascha Mornell said his company is excited about the partnership with Yanmar. “Yanmar is a global company with a long heritage and a strong brand name in the recreational marine industry,” he said. “We are grateful that such a Company recognized the market leadership of GetMyBoat, invested in accelerating our growth and shares our mission to help people, anywhere in the world, to experience the water in a fun and safe way.”