Romanian Neogen Group, controlled by local entrepreneur Călin Fusu, acquired 9.4% of Sailo.com, a global boat rental and yacht charter marketplace that gives access to boats for rent in around 100 countries in North America, South America, Europe, and Asia. Post-investment capitalization amounts to USD 9 million.

Neogen is thus entering the boat rental market, estimated to reach USD 70 billion globally in 2022, 65% above the USD 45 billion mark in 2018.

“Seen as a niche reserved for only those with high and very high income, boat renting has the potential because it is becoming more and more accessible not only to those who have a passion for sailing but also to groups or families who want to spending an offshore holiday at sometimes similar costs, or even lower than hotel costs,” said Călin Fusu.

Sailo Inc. was set up in the US in 2015 by a Romanian entrepreneur, Adrian Grădinariu, who spent more than ten years in Silicon Valley to move to New York and build the online Sailo.com platform to help rent boats of all types and sizes, anywhere in the world.

Neogen was founded in 2000 and specialized in the development of successful marketplace businesses in the online area, the most important being BestJobs, Vivre, Clever Taxi, iTaxi, Frisbo, Conso.ro, and Casta.ro.

editor@romania-insider.com

(Photo source: Pixabay.com)