Yanmar Holdings Co., Ltd. announces that Yanmar America, a subsidiary of Yanmar Holdings Co., Ltd., has purchased a majority stake in GetMyBoat, a worldwide boat rental and water experience marketplace, and has invested $21 million in a Series B investment.
As travel markets reopen, the funds will be utilised to strengthen the GetMyBoat staff and expedite international expansion ambitions. GetMyBoat will continue to be managed as a separate organisation by the current leadership team.
Since its first investment in March 2018, Yanmar has been collaborating with GetMyBoat. Despite the worldwide pandemic, GetMyBoat has grown its net income by more than 10 times since 2019 and expanded its platform to include over 150,000 boats and water activities in more than 9,300 locations.
Yanmar anticipates this move will aid in the company’s digital transformation across its many business areas, as well as provide a chance to detect and analyze emerging trends in the recreational marine market.
Shiori Nagata, chief strategy officer, Yanmar, says: “GetMyBoat is the world’s leading marketplace for boat rentals and water experiences, and shares Yanmar’s desire to deliver rich and fulfilling experiences to its customers. Yanmar is continuing its commitment to using advanced technology to transform into a consumer-focused brand via this acquisition.”