Dorset's savvy navvy passes £600k target after launching latest crowdfunding round 

Dorset navigation app company savvy navvy has already passed its minimum £600,000 target after launching its latest crowdfunding round. 

Savvy navvy, whose app is often referred to as 'Google maps for boats', has just come out of its most successful year to date, doubling its annual recurring revenue to £1.5m by the end of 2022.  

Jelte Liebrand, CEO and founder of the Poole-based company, said: "Last year, during the end of the summer, we were cash flow positive and we are now firmly knocking at the door of profitability, so as a company we’re moving into a new phase. 

"While our core product is targeted at boaters, last year we expanded that to paddleboarders, kayakers and jet-skiers too. 

"With this funding round we will be looking at launching our enhanced version of the app to get even more people safely out on the water. 

"We are also working more closely with marine agencies and other stakeholders, as we are building one of the most insight-rich platforms on boating behaviour.

"So far, 2023 is already looking promising and we are excited to get more investors on board ahead of turning our focus on to this year’s boating season."

Previous rounds proved hugely successful with more than £3m raised in total on the investment platform Seedrs by more than 1,800 investors, including the founders of Kahoot.

Ex-Google software engineer Jelte says interest in the app - which he built from the ground up alongside his now 15-strong fully remote team – is more prominent than ever.

“As long as the product is sound, your plans are sound and where you’re heading is sound, then I think there’s enough appetite out there to get more investors on board in perfect time ahead of this year’s boating season. 

"We of course hope many more will join us as we head into the next phase of growth and innovation.” 

The entrepreneur won the Seedrs Entrepreneur of the year award in 2019 for savvy navvy’s crowdfunding success. At the end of last year, he also won the Great British Entrepreneur of the Year Award for the South West. 

READ MORE: savvy navvy partners with boat rental platform Zizoo