Boatsetter soars with $38 million for boat rental startup

boat buildera boat rental marketplace, raised $38 million in a new round of funding, according to Skift.

Based in the Miami area, Boatsetter looks like a Airbnb, but for boats. Boat owners can rent out their boats to people who want to spend a day on the water, just like Airbnb hosts rent out their homes.

Boat owners can offset the cost of their boats, and people can go boating without the cost and commitment of buying a boat.

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It’s no secret that owning a boat is expensive. Besides the initial cost of buying a boat – and they can get expensive – there are also the annual costs associated with maintenance, storage and taxes, depending on where you live. Boatsetter’s goal is to help boat owners recoup some of that money through its assured peer-to-peer marketplace. The annual earning potential on the platform is over $20,000, according to the company, although this obviously varies.

What it offers

There are over 50,000 boats available on the platform in over 700 locations, including Miami, Chicago, Seattle and San Francisco, according to the Boatsetter website. Options include over 20,000 boat makes and models, by company.

The company, which was founded a decade ago, has become a leader in the peer-to-peer boatsharing market, acquiring competitors like On a boat, Cruzin and fisherman’s guide over the years, according to Crunchbase.

Boatsetter’s last seed round was a $10 million Series A in August 2019, according to Crunchbase. Some investors in the company understand Great Oaks Venture Capital, Global Founders Capital and Effort catalystaccording to Crunchbase.

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