Wavve Boating · B2C · boat navigation app
Raise a small local angel round after proving people pay and signing a partner
Raised under $0.5M; enough to hire, build Android and deliver the partner integration
Workedfinancing
What they did
Self-funded (engineering savings) until the iOS app had proven people would pay and the BRP contract was signed, then pitched the local angel network for a modest round.
What happened
Under $0.5M raised; funded a small team, the Android app and the BRP delivery.
- Stage
- early
In their words
Sub Club by RevenueCat · Navigating App Growth Through Strategic Partnerships and Media Wins — Adam Allore, Wavve Boating“I had proven that people would actually pay for it, and then I had a contract with BRP to do something really cool. So, with that, I was able to go out to the local angel network here to raise some capital.”
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More from this episode
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- Wavve Boating: Pay a local contractor to wrap your core feature in a bare-bones iOS appApp was 'very bad' but drew early adopters and proved people would pay
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- Wavve Boating: Take drone photos of marinas and ask them to hang an app posterDidn't work; too many steps for too little activation
- Wavve Boating: Write the whole article for niche trade journalists, images included, and send itGot steady coverage and credibility; modest downloads but led to big partnerships
- Wavve Boating: Be extra fast and reliable to win a big partner, and don't be greedyBecame Sea-Doo's navigation app; partner paid integration costs and it enabled the angel round
- Wavve Boating: Sell app licenses to a boat club so members get it free, paid per activationLanded the deal; club saves vs multi-thousand-dollar chartplotters; no revenue numbers
- Wavve Boating: Send partner members a link that skips the paywall; police abuse laterFounder says activation, not tech, was the real hurdle; no numbers
- Wavve Boating: Build a custom web tool for one boat rental partnerPartner happy, but a distraction from the core consumer app
- Wavve Boating: Announce every new partner in a press release to land the next onePartners bring ~25% of new users and open doors to other deals
- Greg: Put a QR code for your app in every plant sold at partner nurseriesHost says it became a huge user acquisition driver; no numbers