Yanmar Invests In Boat Sharing

Yanmar said it has made a strategic investment in San Francisco-based GetMyBoat, which it says is the world’s largest boat rental and water experience marketplace. The investment includes funding and a strategic partnership between Yanmar Group company Yanmar Marine International and GetMyBoat.

GetMyBoat was launched in 2013 and said, prior to this announcement, it had never raised outside capital. The Yanmar investment is the company’s first strategic investment.

GetMyBoat said its boat and watercraft rental marketplace has over 108,000 listings in 184 countries and over 9300 locations. The company brings all types of water experiences to renters globally and allows boat owners to list every type of boat and watercraft for rent – from powerboats and sailboats to kayaks and jet skis.

“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. 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,” said Shiori Nagata, president Yanmar Marine International.

As part of the strategic partnership between Yanmar and GetMyBoat, Shiori Nagata will join the board of directors of GetMyBoat. The investment will be used by GetMyBoat to further strengthen its 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.