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SEARADAR opens a €1.28M bridge round

Founded in 2017, SEARADAR is a yacht booking and full-cycle concierge services platform for skippers.

The SaaS marketplace uses algorithms to tailor yacht selections, and offers 24/7 online communication, management and insurance - which in turn reduces risk and eliminates the need for high refundable deposits. They provide customers with multiple touchpoints and offer their users a loyalty program that provides redeemable miles for every booked charter, referred friend, and yacht reviewed.

The startup has achieved some impressive numbers to-date, with 15.8% month-on-month growth and €360K ARR (Annual Recurring Revenue). They are currently raising a €1.2M bridge round (via a SAFE) as they move towards a Series A round in 2023. The funds will be used to scale in the EU and UK, strengthen the team and process automations, and prepare for US market expansion.

SEARADAR raised a €400k seed round back in 2021. Existing investors include the startup accelerator Baltic Sandbox, former Microsoft Russia executive Dmitry Marchenko, Estonian business angel Dmitry Sumin, and other private investors from Bulgaria, Poland, and the UK.

The company is led by serial entrepreneur Dima Beznasiuk and experienced skipper Max Terbov. Dima has successfully exited 2 previous startups - Emprana (an experience gifting company) and Turbodealer (a second-hand vehicle marketplace and SaaS for an automatization of dealerships’ marketing). Max is a life-long skipper and is also the founder of the Atlantis Sailing Challenge.

The ultimate SEARADAR mission is to make yacht rental easy, hassle-free, and secure for the +2 million active licensed captains in Europe. The company aims to bring the same level of convenience and confidence to yacht chartering that holidaymakers expect from car rental services.

Commenting on the round, co-founder Dima Beznasiuk said, "We're planning to raise a large series A in 2023, and so the purpose of this current bridge round is to put us in a strong position ahead of that next raise. This is a really exciting time for us and the SEARADAR team, and it is also the last opportunity for business angels to join us because we will only be approaching VC's for our series A."

CAPITAL AT RISK. Investing in start-ups and early-stage companies involves risks, including illiquidity, lack of dividends, loss of investment and dilution. It should be done only as part of a diversified portfolio. There is no assurance that the investment objectives of any investment opportunity will be achieved or that the strategies and methods described herein will be successful. Investors are recommended to seek independent advice before committing or if they have any doubts as to the appropriateness or suitability of such an investment in relation to their specific circumstances.


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