Click & Boat, which describes itself as an Airbnb for boats, has raised €1 million ($1.05 million) in funding from Paris-based Olma Fund.

The French sharing economy startup recently acquired its competitor Sailsharing and plans to expand its peer-to-peer boat rental services across Europe.

“The objective of such [a] fund raise is simultaneously speeding up our internationalization program in foreign countries, particularly through the recruitment of dedicated human resources, while at the same time launching new services directed to our European clients” said Edouard Gorioux, cofounder, adding that the boating sector has been slower to adopt innovation.

The startup recently launched its Click & Yacht service, dedicated to luxury boats and intends to make more acquisitions in new markets in the future for greater consolidation. It claimed to have seen €10 million effective sales turnover with around 8,000 boats listed on its site in 22 countries.

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