Mazars provided us with professional financial and tax due diligence services performed on Boataround.com. We greatly appreciate Mazars team´s highly concise analysis and recommendations along with its flexibility.
Lucia Timek Investment manager, CB Investment Management
Financial and tax due diligence services for Slovak growth capital investment fund administrator
Mazars has been providing financial advisory services to a well-known Slovak growth capital investment fund administrator supporting young Slovak companies
Challenge
CB Investment management intended to acquire stake and provide capital funding to Boataround.com, a market-proven start-up company in growth stage. In October 2020 CB Investment management appointed Mazars to perform financial and tax due diligence on the target. The decision was based on our proven knowledge and experience in a start-up ecosystem.
Approach
Boataround.com developed and operates a digital platform for the rental of recreational boats and yachts around the world. The company launched its fundraising activities in order to raise capital to further develop the team and technology behind the platform. Their aim was to scale up the business and establish its presence in additional major maritime areas.
Mazars main objective was to review the business model, financial aspects of the platform functionalities as well as other financial figures. The project lasted 4 weeks and included subsequent identification of associated business, financial, and tax risks.
Results
Through our close and precise work with both parties, we have provided the investor with a detailed insight into the financials of Boataround. On the other hand, Boataround gained additional benefit from our work in terms of the quality of their accounting procedures and financial reporting.