Pre-Seed Extension · €350k

Investor Q&A · Deep Dive
v1.7 · April 2026

Best Quote Boat

Investor Q&A
Deep Dive

Sea Access Simplified

Round

€350k

Pre-Seed Extension

Runway

18 months

To seed Q1 2028

Network

1,200+ vessels

Pre-existing supply

Best Quote Boat

Section A · Basics 02 / 37

60s 60-second pitch

A digital platform for smart and seamless
maritime mobility on the Adriatic & Mediterranean.

What we do

1 Client sends a transport request — Transfer, Tour, or Charter — through our mobile app.
2 Instant Book — accept any pre-listed offer from verified providers nearby in one tap.
3 Optional: trigger a 5-minute real-time bid · adjustable radius (wider for charter & long tours).
4 Multi-criteria sort: price, vessel size, luxury class, ETA. Client picks. Best offer wins.
5 Escrow payment via Stripe Connect. Monthly payout to provider IBAN. Mutual review.

Why we win

A One-stop-shop marketplace for maritime mobility — easy, simple, best priced, best selection.
B Supply derisked from day one — 1,200+ vessels via our 20+ year network across Montenegro & Croatia.
C No direct competition — Click&Boat is charter-only, Boatsetter is US-focused.
D Tiered 10–20% commission · half of agent rates, retains top providers.

€4.2B

Adriatic TAM

€350k

Pre-Seed Ask

~2 mo

To MVP launch

18 mo

Runway to seed

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Section A · Basics 03 / 37

Q-01 What is BQB in one sentence?

A B2C & B2B digital platform for
smart and seamless maritime mobility.

"BQB is a one-stop-shop marketplace for sea transport — easy, simple, best priced, best selection. Instant Book from verified providers nearby, or trigger a real-time bid for the best offer. Bidding is our added-value USP, but our core is a digital platform redefining maritime mobility on a €4.2B market still run on cash and walk-ins."

Audience

B2C & B2B

EU travelers + domestic MNE/HR clients (B2C) plus DMC agencies, concierge, hotels (B2B).

BID · OPTIONAL

Mechanism

Instant Book + Bid

Instant Book any pre-listed offer in one tap (default). Or optionally trigger a 5-min bid — providers within adjustable radius compete.

Geography

Adriatic-first

Pilot in Montenegro. Adriatic is home, Mediterranean is neighbor — scalable across MNE → HR → Med.

Services

Three offerings

Transfer (A→B), Tour (multi-stop), Charter (1+ day).

Best Quote Boat

Section A · Basics 04 / 37

Q-02 Why now? Why couldn't this exist 5 years ago?

Six forces converged in 2024–26.
The window is open today.

Force 01 · Demand

Post-pandemic tourism boom

Adriatic nautical tourism is rebounding faster than any pre-COVID year. Tourists actively seek experiences, not hotels. Boat trips are the highest-margin discretionary spend.

+18% YoY

UNWTO · Adriatic 2024

Force 02 · Behavior

Smartphone-first travelers

European tourists already book flights, hotels, and activities on mobile. The Adriatic has the audience — but no app exists for nautical transport. We fill that vacuum.

75%

Mobile bookings · Statista

Force 03 · Infra

Marketplace payments matured

Stripe Connect & Adyen MarketPay made escrow, monthly payouts, and KYC affordable for early-stage marketplaces. This stack didn't exist this way pre-2020.

PSD2

Compliant from day one

Force 04 · Tech

Real-time stack is affordable

WebSockets, push notifications, geofencing, and managed infra (AWS, Vercel) — all mature commodities. A 4-person team can ship what used to need 20.

~10x

Lower cost vs. 2018

Force 05 · Regulation

Adriatic alignment

Montenegro's EU integration is harmonizing maritime & payment rules. Croatia entered the Eurozone in 2023 — single currency unlocks cross-border expansion.

EUR

MNE + HR unified

Force 06 · Scale

Scalable beyond Adriatic

Once proven in Montenegro & Croatia, the same playbook ports to Mediterranean, Europe and global maritime/nautical destinations. Adriatic is home, Mediterranean is neighbor.

Med · EU · Global

Same stack, new geography

Best Quote Boat

Section B · Market 05 / 37

Q-03 How big is the Adriatic nautical market really?

€4.2B total · €890M addressable ·
€85M target by Year 3.

TAM Total Addressable

€4.2B

Adriatic nautical tourism

Total annual spend on nautical tourism & sea transport across MNE, HR, IT, GR. ICOMIA + Eurostat 2024.

SAM Serviceable

€890M

Transfer · Tour · Charter (MNE+HR)

Our primary markets — 65% of transactions still flow through cash or local agents. Ready for digitalization.

SOM 3-Year Target

€85M

BQB GMV target by Y3

~10% capture of SAM in Y3 — conservative vs. marketplace benchmarks. €12.7M revenue at 15% blended take rate.

Adjacent context: Adriatic = 6,400 km coastline (2nd-most popular Mediterranean cruise sub-region). Croatia hosted ~2.5M nautical tourists in 2024 (HTZ data). Montenegro recorded ~2M total tourist arrivals (NTO CG, MONSTAT).

Best Quote Boat

Section B · Market 06 / 37

Q-04 SAM calculation — show me the math.

Bottom-up methodology.
Conservative inputs, public sources.

Croatia · €850M contribution

≈ 2.5M nautical tourists/year × €340 avg spend on sea transport × 100% addressable (charter + transfers) = ~€850M

Sources: Croatian Bureau of Statistics (DZS) 2024 nautical tourism report, Croatian Tourist Board (HTZ) avg spend per tourist data, ICOMIA charter market estimates. Note: €340 is a blended average — with a stronger charter mix, average ticket grows to €500–700+ over time as BQB reputation builds.

Montenegro · €40M contribution

≈ 2M total tourist arrivals/year × ~8% engaging in boat trips × €220 avg spend per trip = ~€35–40M

Sources: MONSTAT 2024 tourism arrivals, NTO Montenegro visitor surveys, internal field interviews with 40+ providers in Montenegro (Q1 2026).

Combined SAM

€850M + €40M = ~€890M

65% still cash or agents — addressable inefficiency.
Numbers do not include superyacht charter (separate market) or commercial passenger ferries.

Best Quote Boat

Section B · Market 07 / 37

Q-05 Who are the customers (B2C personas)?

Four personas drive 100% of demand.
Each unlocks a different price tier.

★ Economy · 50% volume

Family Tourist

Couple or family booking 1–2 short transfers per holiday. Beach hopping, day trips, hotel-to-island runs.

€100–150

Per ride

2–3

Rides/holiday

★★ Convenience · 20% volume

Business / Special Events

Fast transfers, short hops on mid-tier speedboats. Weddings, team-building, celebrations, special-event groups.

€150–500

Per ride

2+

Per event

★★★ Premium · 20% volume

Group Adventurer

4–8 friends booking organized tours. Boka tour, sunset cruise, island hopping. Cost split across the group.

€200–400

Per ride

1–2

Rides/holiday

★★★★ Luxury · 10% vol · 50% GMV

Luxury Traveler

HNW couples / small groups on premium speedboats, small yachts, daily & multi-day charters. Concierge-driven, brand-conscious.

€1,500+

Avg per booking

1+ days

Charter

Geography mix 🇩🇪 Germany 22% 🇮🇹 Italy 14% 🇬🇧 UK 11% 🇫🇷 France 9% 🇲🇪 MNE domestic 18% Other 26%

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Section B · Market 08 / 37

Q-06 Who are the providers (B2B personas)?

Three provider archetypes.
Our network has relationships with all three.

★ Solo · 70% of network

Skippers & Captains

Owns one vessel — typically a speedboat or smaller yacht. Active 30–60 days per season. Wants occupancy and reliable income, not complex tools.

1

Vessel

30–60

Active days/yr

★★ Family · 25% of network

Small fleet operators

2–5 vessels run as a family business across multiple generations. Mix of yachts and speedboats. Wants a professional dashboard with calendar, payouts, fleet analytics.

2–5

Vessels

~120

Days/yr/vessel

★★★ Partner · 5% of network

Partners (bigger operators)

6+ vessels — large small-boat fleets or charter fleets, professionally managed. Auto-qualify for BQB Partner tier (Silver minimum, dedicated manager, API). Need fleet integration, not just a booking tool.

6+

Vessels

API

Integration

Insight

Our 1,200+ vessel network already has established relationships with all three provider types — ~870 skippers/captains, ~300 small fleet operators (1,000+ vessels combined), and ~30 partner operators. The exact sweet spot for BQB's tiered system — solo skippers start Bronze and progress, small fleets dominate Silver/Gold, bigger operators auto-qualify as Partners.

Best Quote Boat

Section B · Market 09 / 37

Q-07 Isn't this just a 4-month seasonal business?

Low season is opportunity to grow.

GMV distribution by month · % of annual

High Season

June 15^th – September 15^th

Shoulder Season

April 15^th – June 15^th

September 15^th – October 30^th

Low Season

everything else

Mitigation 01

Random transfers & tours

Cabin-equipped vessels run year-round transfers and tours. Smooth Apr & Oct–Nov shoulders.

Mitigation 02

Pre-season booking

Pre-season bookings via individual users, DMC agencies, hospitality partners — our low-season opportunity.

Mitigation 03

Float interest

Escrow earns interest year-round regardless of GMV — passive revenue.

Mitigation 04

Off-season events

Regattas, NYE charters, corporate events, photoshoots, weddings — year-round demand pockets.

Cash flow management: €350k Pre-Seed Extension is sized to cover 18 months including 1 full off-season (Nov 2026 – Feb 2027). Operational costs flexed down 60% during low season — burn rate adapts.

Best Quote Boat

Section B · Market 10 / 37

Q-08 How is the market growing?

Adriatic tourism is rebounding
faster than any pre-COVID year.

Adriatic nautical tourism

+18% YoY

Year-over-year growth in nautical tourism across the Adriatic basin (2023 → 2024). Driven by post-COVID rebound, weak EUR boosting non-EU visitors, and shift toward experience-based travel.

UNWTO Tourism Trends · Eurostat 2024

Croatia tourism revenue

€13B 2024

Total tourism revenue Croatia in 2024 — expected to reach €15B in 2025. Croatia is the largest single market in our SAM, with 2.5M+ nautical tourists annually.

Croatian Tourist Board (HTZ) · DZS

Charter market globally

+12% YoY

Global recreational boating & charter market growth in 2024. Mediterranean specifically outpacing Caribbean — climate stability and shorter EU travel times.

ICOMIA Recreational Boating Statistics

Demographic tailwind

25–44 prime travel age

Digital-native millennials & Gen-Z entering peak travel age. App-based booking is default — they expect Uber-style UX, not phone calls or marina haggling.

Eurostat demographics · Booking.com Travel Predictions

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Section C · Product 11 / 37

Q-09 What's built today vs. what's coming?

Brand & design done.
Backend & payments in flight. MVP launching Q3 2026.

✓

Done

Today

✓Brand identity & visual system
✓App design · 9 screens (welcome → review)
✓Provider dashboard design & flows
✓Web platform (landing, pitch, dashboards)
✓Technical architecture finalized
✓4-person founding team · full-time
✓Pilot site secured · Porto Montenegro
✓1,200+ vessel network accessible

◐

In flight

Next 60 days

◐Native iOS app · React Native build
◐Native Android app · same codebase
◐Real-time bidding backend · Node + Redis
◐Stripe Connect integration · escrow
◐KYC flow · Stripe Identity
◐Maritime license verification flow
◐GPS & geofencing · Mapbox integration
◐Insurance partner contract (AXA Montenegro)

⏳

Post-MVP

Q4 2026 → Y2

⏳Multi-language · EN, IT, DE, RU
⏳Advanced filtering & personalization
⏳Loyalty program · repeat clients
⏳Hotel concierge API · partner integrations
⏳Fleet operator API · Partner tier
⏳AI matching · ML-driven Top Picks
⏳Fintech · advances & loans (Y3)
⏳HR localization & payment licensing

Best Quote Boat

Section C · Product 12 / 37

Q-10 How does the auction actually work?

Instant Book first. Then real-time bid.
Sub-100ms latency, fully automated.

01

Request

Client submits route, vessel type, time, party size, optional luxury class. Radius is adjustable (wider for charter & long tours).

02

Instant Book

Pre-listed offers from verified providers nearby appear first — one-tap to accept and book instantly.

03

Push notification OPTIONAL

If client opts for bid, all online providers in radius receive push notification + in-app alert.

04

5-min bid OPTIONAL

Providers submit/lower bids against a floor price. Anonymized competitor count. Real-time updates.

05

Multi-sort

Bids ranked by price + size + class + condition + ETA. Default: best value algorithm.

06

Pick

Auto-best by default. Client can override and pick by class, ETA, or rating.

07

Capture

Card authorized, escrow held, ride confirmed. Provider gets pickup details.

Floor price formula · prevents dumping

Floor = (distance × fuel rate) + (insurance per trip) + (min margin €15) + (class multiplier × 1.0–1.6)
If no bid clears floor → request expires after 5 min, no charge to client. Floor adjusts dynamically with seasonality.

Latency target

<100ms

Bid update propagation

Anti-dumping

€1 min

Bid decrement step (no €0.01 wars)

Anti-collusion

Anon

Provider IDs hidden during auction

Best Quote Boat

Section C · Product 13 / 37

Q-11 What's the multi-criteria sort logic?

Apples-to-apples comparison.
Solves the €100 dinghy vs €1,000+ yacht problem.

Default · "Best Value" weighted score

Score = w1·price + w2·rating + w3·class match + w4·ETA + w5·vessel size match
Weights tunable per request. Client can override default and switch to single-criterion sort (price ↓, size ↓, class ★, ETA ↑).

Sort criteria · 5 dimensions

€

Price — headline economic outcome

w1 · 35%

★

Rating — provider's avg from past rides

w2 · 20%

◆

Class match — Economy / Premium / Luxury

w3 · 20%

⏱

ETA — minutes to pickup point

w4 · 15%

▭

Size fit — vessel length vs party size

w5 · 10%

Class filter · pre-sort

Before sorting, client can filter by luxury class — eliminating the comparison problem early ride-hailing platforms suffered (UberX vs UberBlack confusion).

★ ECONOMY Dinghy, RIBs, smaller speedboats — type · model · year · condition €100–200

★★ PREMIUM Mid-size speedboats, sailboats, catamarans — full-day tours €500–700 €200–1,000

★★★ LUXURY Premium yachts 17m+ — daily €3,000 to €12,000+ depending on parameters €1,000+

Insight: Class is ranked by type, model, year, condition — not just price. The cheapest speedboat can still run a €500–700 full-day tour or €200 cross-bay transfer; a 30m yacht can be €3,000 or €12,000/day depending on parameters.

Best Quote Boat

Section C · Product 14 / 37

Q-12 What's the tech stack?

Battle-tested, EU-hosted,
cross-platform mobile.

Mobile

React NativeSingle codebase, iOS + Android
Expo EASBuild & OTA updates
Reanimated 360fps native animations
WebSocketsReal-time bid updates

Backend

Node.js + TypeScriptType-safe API layer
PostgreSQL 16Primary data store
RedisReal-time pub/sub, caching
Socket.IOBidding events & presence

Web & Maps

Next.js 14Provider dashboard, web app
Tailwind CSSDesign system
Mapbox GLReal-time vessel maps
Google MapsGeocoding fallback

Infra & Ops

AWS · FrankfurtEU data residency, low latency
Stripe ConnectMarketplace payments + escrow
Stripe IdentityKYC, ID verification
Datadog + SentryMonitoring & error tracking

EU-hosted

eu-central-1 · GDPR by default

<100ms

Bid propagation latency target

99.9%

Uptime SLA · multi-AZ

PSD2

Compliant via Stripe Connect

Best Quote Boat

Section C · Product 15 / 37

Q-13 Payments, escrow, KYC — how do you handle compliance?

Stripe Connect handles 95%.
Custom flows for the rest.

Escrow flow · per transaction

1

Authorize — card pre-auth at booking time, no charge yet.

2

Hold — funds in Stripe escrow account during the ride.

3

Capture — automatic after ride completes + 24h review window.

4

Settle — provider's share moves to their Stripe Connect account.

5

Payout — monthly transfer to provider IBAN with full breakdown statement.

↩

Refund path — automated based on cancellation policy timing.

Provider KYC · Stripe Identity

✓ Government ID + selfie verification
✓ Maritime license upload + manual review
✓ Vessel registration + insurance certificate
✓ IBAN verification via Stripe
✓ Tax ID for reporting (provider self-reports income)

Compliance coverage

PSD2
Strong Customer Auth via Stripe

GDPR
EU hosting, right-to-delete

AML / KYC
Stripe Connect platform

Cash option
Verified clients only, off-platform flag

Why Stripe Connect Custom? Out-of-the-box marketplace primitives — escrow holds, split payments, KYC, tax reporting, dispute handling. ~6 months of dev work avoided. Adyen MarketPay was alternative; Stripe wins on dev velocity for early stage.

Best Quote Boat

Section D · Business Model 16 / 37

Q-14 Show me unit economics per transaction.

Three services, three economics.
Sample: €185 transfer → €22.25 contribution.

Transfer · A → B

€125 avg · €60–500 range

Basic / Mid / Premium

Tour · multi-stop

€400 avg · €120–1,500 range

Half-day / Full-day / Premium

Charter · 1+ day

€3,000 avg · €850–12,000+ range

Speedboat / Sailing / Yacht

Per-transaction breakdown · €185 ride

Line item	Amount
Gross Merchandise Value (GMV)	€185.00
BQB commission · Silver tier (15%)	+ €27.75
Stripe fees (1.4% + €0.25)	− €2.85
Refund / dispute reserve (1%)	− €1.85
Customer support allocated	− €0.80
Net contribution margin	€22.25

Effective net take rate: ~12% of GMV · increases to ~14% as Stripe fees scale down with volume and CS cost amortizes.

Provider take-home

€157.25

85% of GMV stays with the provider (after Silver commission). Drops to 12% commission at Gold tier — provider takes home €162.80 per same ride.

Vs. agent comparison

Same €185 ride through traditional agent (avg 27% commission):

€135.05

Agent take-home · €22.20 less than via BQB Silver

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Section D · Business Model 17 / 37

Q-15 What's CAC vs LTV — and the payback period?

LTV/CAC = 4.5×.
Above the 3× marketplace benchmark.

Client side · B2C

CAC · Year 1 (Montenegro) ~€12

CAC · Year 3 (mature brand) ~€8

Channel mix Concierge 35% · IG/TikTok 25% · Marina 20% · Search 15%

Avg trips per holiday 1.8

Returning clients (3-yr) 1.4×

Lifetime trips 2.5

Contribution per trip €22

          Lifetime Value (LTV)
          €55
        

          LTV / CAC ratio
          4.5×
        

Provider side · B2B

CAC · Y1 (Marko's network) ~€0

CAC · Y2+ (paid acquisition) ~€80

Channel mix Direct outreach · Marina booth · Referrals

Avg rides per provider / yr 45

Provider tenure (3-yr est.) 2.4 years

Lifetime rides ~108

Contribution per ride €22

          Provider LTV
          €2,376
        

          LTV / CAC ratio (Y2)
          ~30×
        

Client payback

1.2 trips

CAC €12 / contribution €22 × 70% retention

Provider payback (Y2+)

3.6 rides

CAC €80 / €22 contribution per ride

Benchmark

3× LTV/CAC

a16z marketplace standard · we exceed both sides

Best Quote Boat

Section D · Business Model 18 / 37

Q-16 What's the path to profitability?

EBITDA-positive in Year 3.
Cash-positive Q3 of Year 3.

Year 1 · 2026–27

MVP & MNE pilot

GMV€647k

Net revenue€97k

COGS (Stripe, support)−€15k

Gross profit€82k

Team (4 ppl)−€180k

Marketing (Montenegro GTM)−€87k

Tech & ops−€35k

EBITDA −€220k

Year 2 · 2027–28

Croatia launch

GMV€2.34M

Net revenue€375k

COGS−€55k

Gross profit€320k

Team (7 ppl)−€280k

Marketing (HR launch)−€90k

Tech & ops−€30k

EBITDA −€80k

Year 3 · 2028–29

Med scale + fintech

GMV€7.35M

Net revenue€1.18M

COGS−€140k

Gross profit€1.04M

Team (14 ppl)−€520k

Marketing (Med GTM)−€180k

Tech & ops−€60k

EBITDA +€280k

EBITDA crossover

Mid-Y3

Q2 2028 — peak summer

Cash-positive

Q3 2028

After working capital normalizes

Total burn pre-profit

~€300k

€220k Y1 + €80k Y2

Follow-on seed

~€2M

End of Y2 · funds Y3 expansion

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Section D · Business Model 19 / 37

Q-17 Beyond commission — how do you make money?

Commission is leg one.
Four more emerge as we scale.

1

Commission

Day 1 · Core

Tiered 10–20% take rate on every transaction. Blends to ~16% at scale as providers progress tiers.

€1.18M Y3 ~92% of Y3 revenue

2

Float interest

Day 1 · Passive

Escrow holds funds ~30 days between collection and provider payout. At €5M monthly GMV × 2% rate = passive income year-round.

~€100k/yr Y3 High-margin · zero CAC

3

Premium placement

Y2+ · Marketplace

Top placement for providers (Recommended & banner positions) and Recommended Places — attractions, restaurants, hotels, tours, beach clubs. In-app advertising layer.

~€160k Y3 Providers + places

4

B2B packages

Y2+ · Enterprise

Hotels, concierge services, event organizers buy SLA packages with priority booking, dedicated support, white-label option.

~€60k Y3 ~20 hotel partners

5

Fintech

Y3+ · Future

Pre-season advances and working-capital loans to Gold/Platinum providers, secured against future bookings. High-margin.

~€150k Y3 Optional, 8–14% APR

Insight

Commission dominates early but float + fintech are the long-term plays. They turn a low-margin marketplace (12% net take) into a financial-services platform with 30%+ blended margins at scale.

Best Quote Boat

Section E · Competition 20 / 37

Q-18 Who's the real competition?

No direct competitor on the Adriatic.
Adjacent global players are charter-only or US-focused.

BQB

★ Adriatic-native

Model

Instant Book (default) + Real-time bidding (optional) · Transfer + Tour + Charter

Geography

Montenegro → Croatia → Adriatic → Mediterranean

Commission

Tiered 10–20%

Status

Pre-launch · MVP Q3 2026

Our wedge: versatility — range of boat types & services (transfers, tours, charter), bidding as added-value USP, escrow, plus 20+ years managing & operating in nautical industry. Only platform with this combination on the Adriatic.

Click&Boat

Charter incumbent · FR

Model

Listing marketplace · charter-only (no transfers)

Geography

EU-wide, weak in Adriatic

Commission

15–22% (publicly listed)

Founded

2013, Paris · multiple raises

Their gap: no transfers, no real-time bidding, weak local supply in MNE.

Boatsetter

US peer-to-peer

Model

Peer-to-peer charter, "Airbnb of boats"

Geography

US-dominated · minimal EU presence

Commission

17–25%

Founded

2014 · acquired Boatbound

Their gap: not focused on Adriatic, no Adriatic supply, no transfer SKU.

Local agents · WhatsApp

Status quo · 65% volume

Model

Phone calls, in-person, hotel concierge bookings

Geography

Boka, Hvar, Split — 50+ small operators

Commission

25–30%+ · zero transparency

Tech

Spreadsheets, paper, WhatsApp

Their gap: no app, no escrow, no review, no GPS — but cheap/free for client at booking.

Best Quote Boat

Section E · Competition 21 / 37

Q-19 What stops Uber or Bolt from entering?

Five barriers protect us
from global incumbents.

1

Market is too small for global players

Uber Boat operates in cities of 10M+ population (Istanbul, Lagos). MNE+HR combined ~5M. The Adriatic doesn't move the needle for a $100B+ company. We win because they can't justify the focus.

2

Maritime regulation is country-specific

Each country has different skipper licensing, vessel inspection, and insurance rules. Big-cos can't ship a global product — they need country-by-country adaptation. Slow for them, fast for us.

3

Supply is relationship-driven

Boat owners trust people, not platforms. Our 20+ year network across Montenegro & Croatia can't be replicated by a marketing budget. Cold acquisition of skeptical providers takes years, not months.

4

Cultural fit & local language

Local marina relationships, language nuance, Adriatic geography knowledge — all matter when payments and safety are on the line. Trust comes with locality.

5

First-mover speed

We'll be live in MNE before any global player even surveys the market. By the time they decide, we're entrenched in HR. SEE markets reward speed — Bolt & Glovo proved this vs Uber/DoorDash.

6

Local-wins precedent

In Southeast Europe specifically, local players beat US incumbents consistently — Bolt vs Uber, Glovo vs DoorDash, Wolt vs UberEats in Nordics. Geography knowledge + speed beats capital alone.

Best Quote Boat

Section E · Competition 22 / 37

Q-20 What's your defensible moat?

Six layers compound over time.
Year-1 advantage becomes Year-3 lock-in.

1

Two-sided network effects

More providers → better prices → more clients → more provider sign-ups. Classic marketplace flywheel. Each side reinforces the other with every transaction.

2

Tier system supply lock-in

Bronze → Silver → Gold → Platinum creates real switching cost. A Gold provider on BQB pays 12%; on competitor they restart at 20% Bronze. Tenure becomes a moat. Provider & member referral credits compound retention.

3

Our 20+ year network

Our 1,200+ vessel network across Montenegro & Croatia, built through 20+ years of managing & operating in the nautical industry. Adriatic is home, Mediterranean is neighbor. Cannot be bought with capital.

4

Data & pricing intelligence

Every transaction trains our floor-pricing, ETA, and sort algorithms. Year 3 pricing accuracy beats new entrants by 30–50% — recommended prices closer to market clearing.

5

Brand & trust

In payment-bearing marketplaces, trust matters more than features. First verified booking platform in MNE locks in mind-share with hotels, marinas, and repeat clients. "Adriatic? Use BQB."

6

Fintech extension

Payment + escrow + transaction history → loans & advances. Once we lend to a Gold provider, switching cost is no longer just operational — it's financial. Y3+ defensibility.

Insight

Day-1 moats are founder relationships & first-mover. Year-3 moats become network effects + tier lock-in + fintech. Each year of execution makes us harder to displace.

Best Quote Boat

Section F · Go-to-Market 23 / 37

Q-21 How do you get the first 100 paying clients?

6 channels in Montenegro. Strong marketing mix.
Intermediaries + concierge + referrals do the heavy lifting.

30%

Hospitality concierges

Hotels & villas across Montenegro · concierge rev-share · QR codes in rooms · visible the moment a guest arrives

Highest-intent guest with disposable budget

25%

Intermediary codes

Unique codes to DMC agencies, concierge services, tour operators · packages for big foreign tour-ops with their own client base

Break-even early to feed providers volume

15%

Marina foot traffic

Branded kiosks at marinas across Montenegro · provider on-call demo · walk-in conversion 3–5× digital

High intent, immediate booking

15%

Member & provider referrals

Members get 10% off tours & transfers · 5% off charter on referred subscriber's first booking. Providers earn credits that reduce commission.

Member-vs-Guest flywheel

10%

Marketing mix (paid + organic)

Strong marketing investment with ideal channel mix · Meta & TikTok ads + provider-POV content + Google for destination long-tail. Education layer via partners.

Out of the fridge
at arrival

5%

PR & local press

Vijesti, Pobjeda, Total Croatia · "first Adriatic maritime mobility platform" angle

Credibility + provider
recruitment

Target funnel · Y1

Concierge / kiosk leads

~3 200

App opens / RFQs

~1 800

Bookings

~720

Paying clients (unique)

~480

First 100 = end of Month 2 of season. Conservative on conversion (15% RFQ→book), aggressive on top-of-funnel via hospitality.

CAC math

Blended CAC Y1

€18–25

Avg booking

€280

Take-rate

15%

Contribution / client

€42

Concierge rev-share = variable cost, not paid acquisition. Payback < 1 booking.

Member vs Guest

Guest

One-tap checkout · no profile · no review rights · no referral credits

Member

Profile + ride history · mutual reviews · referral discounts (10% tours/transfers · 5% charter) · loyalty perks

Conversion target Y1: 65% Member. Member LTV ~3× Guest. Retention compounds the moat.

Best Quote Boat

Section F · Go-to-Market 24 / 37

Q-22 How do you scale supply (providers)?

Founders' 5-year network = day-1 unfair advantage.
Then we move from hand-shake to broker-led to self-serve.

1

Y1 · Hand-shake

Founder-led onboarding

Marko + Dalibor personally onboard first 80–100 providers across Montenegro. Our 20+ year network spans skippers/captains, small fleet operators and partner operators.

Trust > technology. First providers join because they know us, not because of the app.

2

Y2 · Broker-led

Regional partner reps

1 supply rep per hub: Split, Hvar, Dubrovnik, Zadar, Pula. Commission-based; goal = 500+ providers by EoY2. Local language, local relationships.

Cost: ~€18k/rep/year + 1% override on rep's pipeline. Self-funding by month 4 of each new hub.

3

Y3+ · Self-serve

Inbound + KYC pipeline

Brand pulls providers in: app store, "Become a provider" landing, peer referrals. 2 000+ providers by EoY3, 90% inbound, KYC + insurance verified in <48h.

Two-sided flywheel. More demand → more providers → faster auctions → better prices → more demand.

Why providers say yes

Empty calendar slots monetised. Higher utilisation = more income with the same boat. Zero upfront cost — pay only on completed bookings.

Why marinas say yes

Co-branded kiosks → guest experience upgrade + small rev-share. We bring tourists, they bring legitimacy. 3 LOIs signed at pilot stage.

Supply target

EoY1 — Montenegro

~120

EoY2 — HR coast

~500

EoY3 — Adriatic & Mediterranean

~2 000

Best Quote Boat

Section F · Go-to-Market 25 / 37

Q-23 What partnerships are critical?

4 partnership lanes — distribution, infrastructure, trust, capital.
Targets identified across each lane; deals come post-funding.

Lane 1 · Distribution

Targets identified

Hotels · villas · marinas · DMC agencies

Montenegro 5★ properties, boutique villas, top marinas, DMC agencies, concierge services, foreign tour operators active in MNE. Concierge rev-share, intermediary code program, co-branded kiosks.

Why critical: shortest path to high-intent guest with €200–500 disposable budget for the day.

Lane 2 · Infrastructure

Stack chosen

Stripe Connect · KYC · weather APIs

Stripe Connect for split payments & escrow. Sumsub for KYC/KYB on providers. OpenWeather + Stormglass for sea-state. Mapbox for routing & ETA.

Why critical: we don't build payments, identity or weather — we orchestrate proven layers and own the marketplace logic.

Lane 3 · Trust & insurance

Roadmap

Insurance product · port authorities

Co-branded insurance product with carriers like Uniqa, Generali, Croatia Insurance — per-trip cover bundled in price, BQB earns commission. Plus compliance with the MNE Maritime Authority, MNE Maritime Safety, NTO Montenegro & HTZ listings.

Why critical: insurance + verified KYC = "safe to book" perception + new revenue line.

Lane 4 · Capital · grants · ecosystem

Pipeline

Angels · VCs · grants & subventions

South Central Ventures, Fil Rouge Capital, Day One Capital on the VC side. Non-dilutive: Fond za inovacije CG, EU Horizon, IPA III, Naučno-tehnološki park. Tourism-tech angels HR/AT.

Why critical: capital is fuel, grants extend runway, ecosystem opens marina & insurer doors.

Best Quote Boat

Section G · Risks 26 / 37

Q-24 What's your biggest risk?

Seasonality + cold-start on the demand side.
Not regulation, not competition, not technology. Cash-flow timing.

#1 Risk

High likelihood · medium impact

High season is 3 months. Operating costs are 12.

~70% of bookings happen Jun 15 – Sep 15 (high), with meaningful shoulders Apr 15–Jun 15 & Sep 15–Oct 30. We need to fund operations through the off-season while the marketplace is still small. A single bad summer (war, pandemic-style shutdown, fuel crisis) compresses annual revenue into one season.

How we mitigate

→ Year-round transfers (airport ↔ marina) extend revenue calendar

→ Pre-paid escrow means we hold float, not pay it

→ Med expansion after Y2 — Greece & Spain shift season +1

→ 12-month runway built into raise — survives one bad summer

#2 · Cold-start demand

Med likelihood

If 80 providers list and 5 tourists open the app, providers churn before season 2. Mitigation: launch demand-first via concierge before opening supply broadly.

#3 · Macro / FX

Med likelihood

Adriatic tourism = mostly EUR-denominated, but discretionary. Recession in DACH/UK source markets = -15–25% bookings. Mitigation: price-driven model wins relatively in downturns.

#4 · Key-person

Low likelihood

Founders are deeply embedded in the Montenegro & Croatia network. Mitigation: documented onboarding playbook by Q4 2026 — relationships transferable to supply reps.

What we don't worry about (yet)

Direct competitors entering. Tech execution. Regulation in MNE/HR. Addressed in Q-25 to Q-27.

Best Quote Boat

Section G · Risks 27 / 37

Q-25 What are the regulatory risks?

We're a marketplace, not the operator.
Providers hold the licenses. We hold the compliance discipline.

Maritime · MNE

Charter & transfer licensing

Commercial passenger transport requires boat registration + skipper license + Maritime Authority approval. Each provider handles their own — we verify on KYB and re-check yearly.

BQB exposure: we platform — we don't operate. Same posture as Booking with hotels.

Maritime · HR

Cro-Skipper + eVisitor

Croatian charter is well-codified: Cro-Skipper, mPass, eVisitor, sojourn-tax reporting. We integrate eVisitor in the provider dashboard so registration is one tap, not paperwork.

BQB advantage: compliance-as-a-feature is why providers stay on the platform.

Payments · EU/EEA

PSD2 · AML · 6th AMLD

We don't hold a payments license — Stripe Connect (Stripe Payments Europe Ltd, Ireland) is the regulated party. We are commercial agent; KYC handled by Sumsub + Stripe.

Future: when fintech features go live (Y3), we evaluate EMI license vs partner BaaS.

Tax & VAT

Transfer/tour services VAT-able in the country of supply. Provider invoices client, BQB invoices provider (commission). OSS / IOSS ready for cross-border. Audited by local accountants in MNE & HR.

Data · GDPR

Data minimisation, retention & DSR processes from day 1. EU-hosted infra (Hetzner FR / AWS Frankfurt). DPO function with external counsel; no AI training on personal data without opt-in.

Net regulatory posture

MNE & HR are stable, EU-aligned, tourism-friendly jurisdictions. Risk is operational compliance, not legal disruption. No DMA / DSA gating at our scale.

Best Quote Boat

Section G · Risks 28 / 37

Q-26 What happens when something goes wrong on the water?

Safety is a 3-layer system: prevention, real-time, recovery.
Insurance is the floor — culture and tooling are the ceiling.

1

Prevention

Verified providers only

→ Skipper license + boat reg verified at KYB
→ Per-trip passenger liability insurance mandatory
→ Tier system — repeat offenders lose ranking
→ Pre-departure weather gate — auto-block if sea-state > threshold

2

Real-time

Live trip protection

→ GPS trip tracking in client & provider apps
→ SOS button — calls 112 + nearest provider + BQB support
→ 24/7 ops desk during season — <3 min response target
→ Direct lines to Maritime Authority & coast guard

3

Recovery

Refunds, claims, learning

→ Escrow holds funds — instant refund on no-show or cancel
→ Insurance claim portal — bqb files on behalf of guest
→ Incident review board — provider de-listed if at fault
→ Post-mortems shared with supply network — system learns

Why this beats DIY booking by phone

Today: tourist hands €300 cash to a provider on the dock, no record, no insurance trail, no recourse. With BQB: verified ID, insured trip, GPS log, escrow refund, support line. Same boat — radically different downside for the guest.

Insurance stack at scale

Per-trip layer (provider) + platform umbrella (BQB, from Y2) + optional guest add-on (€2–4 per trip). Co-branded with Uniqa, Generali or Croatia Insurance — BQB earns commission on each policy.

Best Quote Boat

Section H · Team 29 / 37

Q-27 Why this team, why now?

Founder-market fit measured in 20 years on the water,
not powerpoints. Multidisciplinary · entrepreneurial.

Co-founder · CEO

Marko

20 years across marina management & maritime transportation. Ran Montenegro's first true private marina in Budva (since 2006). Multidisciplinary operator with an entrepreneurial approach. Knows the seasonal rhythm, hospitality desks, marinas, providers by name.

Owns: supply, ops, partnerships

Co-founder · CTO

Dalibor

Multidisciplinary builder with an entrepreneurial approach. Shipped Amaturn AI SaaS solo to revenue. Full-stack across web + mobile. Architect of BQB's auction engine, escrow flow and provider dashboard.

Owns: product, engineering, data

CDO · Design Lead

Jovana

Architect who nurtures passion in design. Owns brand, product UI and the visual system across mobile, dashboard and web — simple yet sophisticated, building BQB's reputation. Multidisciplinary.

MRA · Growth Lead

Lucija

Multidisciplinary marketing, partnerships and content lead. Owns concierge & marina deals, intermediary code program, IG/TikTok pipeline, PR angle. Native HR speaker — leads Croatian coast expansion in Y2.

Why now

Adriatic tourism returning to record highs · mobile-first travel default · Stripe Connect + AI mature enough to run lean.

Why us

Operator + builder co-founders, both entrepreneurial · multidisciplinary team · 20+ year network across Montenegro & Croatia · already shipped one SaaS to revenue.

What we hire next

Senior backend (auctions/payments) · Ops manager (Montenegro) post-raise.

Best Quote Boat

Section H · Team & Ask 30 / 37

Q-28 What does €350k buy?

12 months of runway, MVP to first paying season,
and the metrics that justify a seed round in Q4 2027.

Allocation · €350 000

12-month deployment

Team · salaries · contractors

€158k · 45%

2 founders (modest founder salary) + senior backend hire Q3 + part-time growth & design retainers. Founders take below-market until seed.

GTM · partnerships · concierge program

€70k · 20%

Marina kiosks, concierge rev-share fund, DMC/intermediary code program, content production (provider-POV reels), influencer pipeline, PR. Strong marketing mix from day 1.

Engineering · infra · third-party stack

€53k · 15%

Hosting (AWS/Hetzner), Stripe Connect, Sumsub KYC, Mapbox, Stormglass, Sentry, monitoring. App-store fees, two mobile builds.

Ops · Montenegro launch · 24/7 support

€35k · 10%

Provider onboarding, branded kiosks, support desk during peak season, training materials, supply ops travel across Montenegro.

Legal · compliance · insurance · reserve

€34k · 10%

Counsel (HR & MNE), GDPR/DPO, ToS & ToU, platform umbrella insurance, accounting, ~5% buffer for surprises.

Milestones unlocked

Q3 2026MVP live · 80+ providers across Montenegro · first paying clients
Q4 20263 marina kiosks · 12 hotel concierge LOIs activated
Q1 2027Croatia pilot — Split + Hvar · supply rep #1 hired
Q2 2027~500 paying clients YTD · GMV €450k+ run-rate
Q4 2027Seed round (€1.5–2.5M) on validated unit economics

Capital efficiency

Adriatic salaries · founder operators · zero paid ads. €350k here = ~€1.2M of equivalent runway in DACH/UK. Same milestones, lower burn.

What this round is NOT for

Owning boats. Heavy paid acquisition. Premature Med expansion. Discipline = focus on Montenegro proof + early Croatia coast.

Best Quote Boat

Section H · Team & Ask 31 / 37

Q-29 What's the next round look like?

Seed at €1.5–2.5M, Q4 2027,
priced on real GMV — not slide-deck projections.

Seed round · target Q4 2027

Round size

€1.5 – 2.5M

Pre-money target

€8 – 12M

Dilution

15 – 20%

Use of funds

Croatia full-coast
+ Greece pilot

Investor profile we want

Regional VC lead (South Central Ventures, Fil Rouge, Day One) + travel/marketplace specialist (Speedinvest, Surplus Capital) + 2–3 strategic angels (hospitality, payments). Board seat to lead, observer to co-investors.

Metrics that justify the price

GMV run-rate (annualised)

€600k+

Net revenue Y1

€80–110k

Active providers

120+

Paying clients (cumulative)

~500

Take-rate (blended)

15–17%

Repeat / referral rate

25%+

CAC payback

< 1 booking

Why Q4 2027, not earlier

One full season (Montenegro) + early Croatia signal = defensible numbers. Raising mid-season skips proof. Raising too early prices on hope.

Pre-Seed Ext

€350k

Now · 12 mo runway

Seed

€1.5–2.5M

Q4 2027 · 18 mo

Series A

€6–10M

2029 · Med-wide

Outcome target

€80–150M

Strategic exit · Y6–7

Best Quote Boat

Section H · Team & Ask 32 / 37

Q-30 What's the exit story?

Three credible paths · strategic, PE roll-up, or sustained cash.
We're not building for a fire-sale.

Path 1 · Strategic

Most likely

Acquired by global travel platform

Booking, Airbnb Experiences, Expedia, GetYourGuide — they want Adriatic supply but won't build local relationships from scratch. We become their boat vertical.

Comp: Airbnb/HotelTonight $465M · Booking/FareHarbor $150M · GetYourGuide/Tiqets $85M.

Path 2 · Vertical roll-up

Plausible

Acquired by boat-vertical consolidator

Click&Boat (Permira), Borrow A Boat, GetMyBoat — they own charter, we own short trips + transfers. Strategic fit fills their Adriatic product gap.

Comp: Click&Boat rolled up Nautal · Sailogy · Filovent at 4–6× revenue.

Path 3 · Cash machine

Backup

Profitable on Adriatic alone

Adriatic TAM is large enough to run profitably without selling. €8–12M annual contribution = dividends, secondary, or PE buy-out at 8–10× EBITDA.

No exit pressure. Optionality matters more than urgency.

8–12×

High-growth travel

4–6×

Vertical marketplace

3–5×

PE roll-up at scale

8–10×

EBITDA · profitable

Outcome · Y6–7

€80–150M

€15–25M ARR · top of range on strategic auction

Best Quote Boat

Section H · Team & Ask 33 / 37

Q-31 What do you need from us beyond money?

5 specific asks. Each one shaves months off execution.
Smart money > cheap money — every time.

1

Marketplace expertise

A board operator who scaled a two-sided marketplace

Someone who's lived through cold-start, supply churn, take-rate wars. Bolt / Wolt / Glovo / GetYourGuide alumni preferred. Pattern recognition we can't buy.

2

Travel-industry intros

Direct lines into Booking, Airbnb, GetYourGuide partner teams

Distribution accelerates 2× when we're listed inside an OTA. Ideal investor has existing partner-team contacts at one of the global travel platforms — not a cold pitch.

3

Insurance & fintech

Underwriter relationships for platform umbrella + future BaaS

We need a per-trip insurance product priced for marketplaces, not retail. Generali / Zurich / Allianz partner-bench access shortens negotiation by 6 months.

4

Senior talent network

Pipeline for senior backend + ops manager roles

We hire two roles in the next 12 months. Talent referrals from your portfolio are 5× higher conversion than cold sourcing — and signal quality to the candidate.

5

Strategic positioning · later

Help us be on the radar of likely acquirers — early, not at exit

Best exits start as commercial relationships 2–3 years before the term sheet. Warm intros to corp-dev teams at travel platforms and boat-vertical consolidators let us build relationships gradually — so when conversations turn strategic, we're not strangers.

What we don't ask for

Day-to-day product input · vetoing hires · marketing playbook templates. We need accelerators, not operators. Cap-table architecture: lead + 2–3 specialist angels, no crowded table.

Best Quote Boat

Appendix · Strategic analysis 34 / 37

Apx SWOT — both sides of the marketplace

Two-sided platform, two-sided analysis.
Clients/Members & Providers/Partners.

Clients · Members

B2C

+ Strengths

Best price via Instant Book or 5-min bid
App in 6 languages · escrow trust
Verified providers + mutual review
One-stop-shop: Transfer · Tour · Charter

− Weaknesses

Brand unknown vs. walk-in habit
Connectivity required (data roaming)
Class confusion for first-time users

↗ Opportunities

Concierge & hotel distribution (high intent)
Member loyalty = LTV ~3× Guest
Cross-sell: attractions, restaurants, hotels
Mediterranean expansion post Y2

⚠ Threats

Macro downturn → DACH/UK discretionary cuts
Safety incident on water (rare but high impact)
Booking/Airbnb adding boat vertical

Providers · Partners

B2B

+ Strengths

Higher utilization · fills idle slots
Tiered 10–20% — half of agent rates
Monthly IBAN payout · zero cash risk
Digital dashboard: calendar · analytics

− Weaknesses

Tech adoption among older skippers
Initial KYC/insurance onboarding effort
Need to maintain rating discipline

↗ Opportunities

Year-round transfers extend revenue
Partner tier · API integration (10+ fleet)
Fintech: advances + working-capital loans
Insurance bundling commission

⚠ Threats

Provider multi-homing (incentivized by tier lock-in)
Regulatory tightening on commercial passenger transport
Fuel price spikes compress margins

Best Quote Boat

Appendix · Strategic analysis 35 / 37

Apx PEST — macro environment

Political · Economic · Social · Technological.
Tailwinds dominate, headwinds are manageable.

P

Political

EU alignment · stable jurisdictions

MNE EU accession progressing
HR is EU + Eurozone since 2023
Tourism-friendly governments
Maritime regulation stable & codified
No DMA/DSA gating at our scale

↗ Net positive

E

Economic

Tourism rebound · EUR-denominated

Adriatic tourism +18% YoY post-COVID
€4.2B TAM growing 8–12% annually
EUR currency in both MNE & HR
Recession risk in DACH/UK source markets
Fuel price volatility affects margins

⚖ Mixed — tailwind > risk

S

Social

Mobile-first travel · experience economy

75% of EU travel bookings on mobile
Tourists seek experiences over hotels
Trust in verified platforms (Airbnb effect)
Younger demo expects digital + instant
Sustainable / local travel growing

↗ Net positive

T

Technological

Stack mature · build-cost down 10×

Stripe Connect + Sumsub KYC ready
WebSockets, geo APIs commoditized
AI-assisted dev velocity
5G coverage on Adriatic coast
Open-source infra cuts costs

↗ Net strong tailwind

Macro net

Three of four PEST quadrants are net positive; Economic is mixed but tailwind dominates. Now is the right moment to ship — stack is affordable, demand is rebounding, regulation is stable, and tourists already expect mobile-first.

Best Quote Boat

Appendix 36 / 37

Apx Sources & methodology

Numbers grounded in public data + founder ground-truth.
Where we estimate, we say so.

Market sizing

UNWTO — Tourism Highlights 2024–25
Eurostat — coastal & maritime tourism datasets
NTO Montenegro — annual visitor & receipts reports
HTZ Croatia — eVisitor & nautical tourism stats
WTTC — Economic Impact Reports MNE & HR
ICOMIA — Recreational Boating Industry yearbook

Competition & deals

Crunchbase · funding & M&A history
Pitchbook · marketplace multiples
SEC filings · Booking, Airbnb, Expedia disclosures
Permira / Click&Boat press releases (2021–24)
GetYourGuide · Tiqets acquisition (2024)
FareHarbor / Booking — 2018 acquisition disclosures

Regulatory & technical

MNE & HR Maritime Authority · official harbor master
EU PSD2 · 6th AMLD directive texts
Stripe Connect · marketplace docs
Sumsub / Onfido · KYC product specs
Cro-Skipper / mPass / eVisitor · official portals
OpenWeather, Stormglass, Mapbox · API docs

Internal methodology

Founder ground-truth · 20+ yr across MNE & HR
Provider interviews · n=50 across MNE
Hospitality target list · concierge & villa partners identified
Pricing surveys · 200+ data points
Benchmarks · marketplace take-rate triangulation
Bottom-up funnel · concierge → RFQ → book

Estimation discipline

TAM/SAM/SOM uses 2024 actuals, scaled by published growth rates. We avoid hockey-stick assumptions; ranges err conservative.

FX & pricing

All figures in EUR. MNE adopted EUR de-facto since 2002. HR adopted EUR Jan 2023. Cross-check ECB reference rates as of April 2026.

Forward-looking statements

Projections assume stable Adriatic tourism, no major macro shock, EUR stability. Material deviations communicated to investors quarterly.

Best Quote Boat

Closing

— Thank you —

Let's build the
first Instant Book + Bid marketplace
for boats on the Adriatic and beyond.

We're raising €350k to ship the MVP, run our first paying season in Montenegro, and put the metrics on the table that justify a seed round.
If this is the kind of bet you take — let's talk.

Founders

Marko · CEO

marko@bestquoteboat.me

Dalibor · CTO

dalibor@bestquoteboat.me

Web

bestquoteboat.me

Pitch · App preview · Provider dashboard

Investor data-room

On request · NDA available

Entity

BQB LLC

Montenegro
Pre-Seed Extension · v1.7
April 2026 · Confidential

Investor Q&A Deep Dive

A digital platform for smart and seamless maritime mobility on the Adriatic & Mediterranean.

A B2C & B2B digital platform for smart and seamless maritime mobility.

Six forces converged in 2024–26. The window is open today.

€4.2B total · €890M addressable · €85M target by Year 3.

Bottom-up methodology. Conservative inputs, public sources.

Four personas drive 100% of demand. Each unlocks a different price tier.

Three provider archetypes. Our network has relationships with all three.

Low season is opportunity to grow.

Adriatic tourism is rebounding faster than any pre-COVID year.

Brand & design done. Backend & payments in flight. MVP launching Q3 2026.

Instant Book first. Then real-time bid. Sub-100ms latency, fully automated.

Apples-to-apples comparison. Solves the €100 dinghy vs €1,000+ yacht problem.

Battle-tested, EU-hosted, cross-platform mobile.

Stripe Connect handles 95%. Custom flows for the rest.

Three services, three economics. Sample: €185 transfer → €22.25 contribution.

LTV/CAC = 4.5×. Above the 3× marketplace benchmark.

EBITDA-positive in Year 3. Cash-positive Q3 of Year 3.

Commission is leg one. Four more emerge as we scale.

No direct competitor on the Adriatic. Adjacent global players are charter-only or US-focused.

Five barriers protect us from global incumbents.

Six layers compound over time. Year-1 advantage becomes Year-3 lock-in.

6 channels in Montenegro. Strong marketing mix. Intermediaries + concierge + referrals do the heavy lifting.

Founders' 5-year network = day-1 unfair advantage. Then we move from hand-shake to broker-led to self-serve.

4 partnership lanes — distribution, infrastructure, trust, capital. Targets identified across each lane; deals come post-funding.

Seasonality + cold-start on the demand side. Not regulation, not competition, not technology. Cash-flow timing.

We're a marketplace, not the operator. Providers hold the licenses. We hold the compliance discipline.

Safety is a 3-layer system: prevention, real-time, recovery. Insurance is the floor — culture and tooling are the ceiling.

Founder-market fit measured in 20 years on the water, not powerpoints. Multidisciplinary · entrepreneurial.

12 months of runway, MVP to first paying season, and the metrics that justify a seed round in Q4 2027.

Seed at €1.5–2.5M, Q4 2027, priced on real GMV — not slide-deck projections.

Three credible paths · strategic, PE roll-up, or sustained cash. We're not building for a fire-sale.

5 specific asks. Each one shaves months off execution. Smart money > cheap money — every time.

Two-sided platform, two-sided analysis. Clients/Members & Providers/Partners.

Political · Economic · Social · Technological. Tailwinds dominate, headwinds are manageable.

Numbers grounded in public data + founder ground-truth. Where we estimate, we say so.

Let's build the first Instant Book + Bid marketplace for boats on the Adriatic and beyond.

Investor Q&A
Deep Dive

A digital platform for smart and seamless
maritime mobility on the Adriatic & Mediterranean.

A B2C & B2B digital platform for
smart and seamless maritime mobility.

Six forces converged in 2024–26.
The window is open today.

€4.2B total · €890M addressable ·
€85M target by Year 3.

Bottom-up methodology.
Conservative inputs, public sources.

Four personas drive 100% of demand.
Each unlocks a different price tier.

Three provider archetypes.
Our network has relationships with all three.

Adriatic tourism is rebounding
faster than any pre-COVID year.

Brand & design done.
Backend & payments in flight. MVP launching Q3 2026.

Instant Book first. Then real-time bid.
Sub-100ms latency, fully automated.

Apples-to-apples comparison.
Solves the €100 dinghy vs €1,000+ yacht problem.

Battle-tested, EU-hosted,
cross-platform mobile.

Stripe Connect handles 95%.
Custom flows for the rest.

Three services, three economics.
Sample: €185 transfer → €22.25 contribution.

LTV/CAC = 4.5×.
Above the 3× marketplace benchmark.

EBITDA-positive in Year 3.
Cash-positive Q3 of Year 3.

Commission is leg one.
Four more emerge as we scale.

No direct competitor on the Adriatic.
Adjacent global players are charter-only or US-focused.

Five barriers protect us
from global incumbents.

Six layers compound over time.
Year-1 advantage becomes Year-3 lock-in.

6 channels in Montenegro. Strong marketing mix.
Intermediaries + concierge + referrals do the heavy lifting.

Founders' 5-year network = day-1 unfair advantage.
Then we move from hand-shake to broker-led to self-serve.

4 partnership lanes — distribution, infrastructure, trust, capital.
Targets identified across each lane; deals come post-funding.

Seasonality + cold-start on the demand side.
Not regulation, not competition, not technology. Cash-flow timing.

We're a marketplace, not the operator.
Providers hold the licenses. We hold the compliance discipline.

Safety is a 3-layer system: prevention, real-time, recovery.
Insurance is the floor — culture and tooling are the ceiling.

Founder-market fit measured in 20 years on the water,
not powerpoints. Multidisciplinary · entrepreneurial.

12 months of runway, MVP to first paying season,
and the metrics that justify a seed round in Q4 2027.

Seed at €1.5–2.5M, Q4 2027,
priced on real GMV — not slide-deck projections.

Three credible paths · strategic, PE roll-up, or sustained cash.
We're not building for a fire-sale.

5 specific asks. Each one shaves months off execution.
Smart money > cheap money — every time.

Two-sided platform, two-sided analysis.
Clients/Members & Providers/Partners.

Political · Economic · Social · Technological.
Tailwinds dominate, headwinds are manageable.

Numbers grounded in public data + founder ground-truth.
Where we estimate, we say so.

Let's build the
first Instant Book + Bid marketplace
for boats on the Adriatic and beyond.