Floatist, a tech-based fleet management company, has recorded growth of 400 per cent in the past six months and says it is poised for further expansion before the year’s end.

Since its launch in 2022, Floatist has worked to digitise the yacht charter industry and how fleet operators handle daily operations.

The productivity platform addresses fleet operators’ operational challenges, including inefficient communication between teams, paperwork overload during check-ins, and inadequate maintenance tracking and scheduling.

Floatist says it simplifies charter management by streamlining operations using software to automate such workflows and administrative tasks.

The young startup led by CEO & co-founder Cindy Allis has witnessed exponential revenue growth this past year, with the third quarter alone experiencing a doubling of revenues.

The firm reports its growth rates per quarter have been 60 per cent, 80 per cent and 90 per cent quarter on quarter in the last three quarters of 2023.

With the Mediterranean season drawing to a close and fleet operators beginning to reflect on better-streamlining operations, Floatist says it is well positioned to continue taking market share in this underserved market. The yachting industry is continuing to digitalise rapidly as the stakeholders become increasingly prone to adopting technology, and a younger workforce takes over from the older generation.

Bolstering this revenue growth in Q3 is the increased total number of boats on the Floatist platform, which now sits at 330.

Floatist is now focusing on its global expansion efforts, particularly on the Asian and US markets, from Rhode Island to Thailand, including the most recent addition of a fleet operator based in the British Virgin Islands.

“Following Europe’s lead, Asia, the US, and the Caribbean are poised to become the charter industry’s next big markets,” says Allis. “In Asia, the growing market is already witnessing charter companies leveraging technology to enhance the customer experience and distinguish themselves from the competition. Meanwhile, in the Caribbean, some companies are adopting some form of technology, and our solution is now being eagerly embraced as a natural fit for their operations.”

New hires

Floatist has also recently expanded its team to accommodate the company’s growth, with the appointment of Cesare Marchesan as the firm’s new sales manager.

Floatist features within the lineup of the Start-Up pavilion at METSTRADE (15 -17 November 2023), where it will engage with industry leaders and stakeholders to accelerate the digitisation of the industry.

At the end of the year (6-8 December 2023), Floatist will join the charter fleet operators, agents and suppliers at the International Charter Expo (ICE) held in Zagreb.

“We are so proud to celebrate our extraordinary growth rate at Floatist,” says Allis. “But this journey of growth is just the beginning of our aim to continue to disrupt the charter industry as we are driven to set new standards and form new partnerships, paving the way to a better future where the yacht charter experience is seamless.”

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