Boat rental marketplace, Borrow A Boat, is to admit its shares to London trading venue, JP Jenkins.
The move follows a streamlining and restructuring earlier in 2023 when it de-merged its previous acquisition of Helm and optimised the business for tech-driven growth which founder, Matt Ovenden, says will put the company into profit in 2024.
So far in 2023, the company has delivered more than 2,500 charters – from day hires, to sailing holidays and crewed superyacht charters – from the 45,000 boats on offer on the platform.
In addition, new future bookings made over the summer were up by 30% compared to 2022.
“We are leaner and meaner than ever and growing at a rate still,” said Matt. “The next step in our journey is the exciting admission of our shares to JP Jenkins, in what is set to be a strong end to 2023 and start to 2024.”
And he added that the admission to JP Jenkins will allow investors globally to trade shares via their stockbrokers.
Following the restructuring process undergone in early 2023, Borrow A Boat is now owned by The Boat Engine Ltd since the company was acquired into a new entity by Matt and a consortium of supportive investors.