YACHTNEEDS raises €1.25m in Funding for Marketplace Expansion
Since evolving its business model and launching the first dedicated superyacht marketplace earlier this year, YACHTNEEDS has gained incredible momentum, raising €1.25m in its first round of funding.
Having just officially registered as a public company S.A.M. in Monaco, this round of funding has come from a private investor who brings extensive experience in technology and international marketplaces, along with the F2IAM Fund, a Monegasque Innovation Impact and Acceleration Fund, supported by the Monaco government.
Founder and ex-crew member Tony Stout explains the journey so far. “We launched the YACHTNEEDS directory in 2016 always knowing we wanted to build and release a marketplace. Over the last four years we have seen and explored the demand for a closed and selective marketplace within the yachting community. As a result, we launched YACHTNEEDS marketplace in January 2022 and now secured €1.25m funding to kickstart our growth plan.”
The private investor shared, “I am thrilled to be part of this journey that YACHTNEEDS is embarking on. It is an excellent and innovative project, and one that I know will shape the yachting industry for good.”
YACHTNEEDS marketplace is the first of its kind. Described as the Amazon of the yachting industry the secure digital platform offers many thousands of yachting specific products, sold by 100’s of local, trusted sellers. The marketplace saves buyers arduous time sourcing products and is transforming how the yachting community shops, allowing crew, guests, and owners to buy, and to have their orders easily delivered to their yacht or location of choice.
The unique online platform has been well received by the superyacht community. Chief Stewardess Samantha Davison commented, "YACHTNEEDS marketplace is exactly the platform we have been looking for! A user friendly, ‘one stop shop’ for yachties who don’t always have the time to hunt around." Ralph Farraudiere, Chief Engineer followed up with "The YACHTNEEDS marketplace experience is making everything completely reachable & easily accessible from any device which is making our lives much easier. Such a great idea!"
YACHTNEEDS marketplace gives users the ability to browse via brand, part code or product description for essential and luxury items for every department onboard and makes the time-consuming task of keeping a yacht fully stocked much easier and quicker to manage. Using a network of already trusted yacht suppliers means that when crew order they know they are getting the products they want, at the right price and that they will be delivered on time and to the correct location.
The funding has put the platform in great stead for their future plans. Stout explains, “It is an honour to have the trust and backing of the Monegasque government as well as the support and industry experience of our private investor. We have successfully launched in France, Italy, and Spain with over 30,000 part-codes and products currently active. We have a strong expansion plan for Europe and will also launch in the USA/Caribbean this year. By the end of 2023, we will be global and aim to have over one million part-codes active. This round of funding will allow the team to shift gears and accelerate our expansion constantly updating and improving our marketplace within this ever-shifting industry.”
To find out more about YACHTNEEDS marketplace visit www.yachtneeds.com or email firstname.lastname@example.org