Camplify floats on ASX
AirBNB-style platform rides COVID caravan boom with share market listingPeer-to-peer RV rental platform Camplify is hoping to capitalize on the COVID caravanning boom, when it lists on the Australian Stock Exchange later this month.
Camplify kicked off in 2015 with the backing of the NRMA and ASX-listed Apollo Tourism & Leisure, which currently holds a 25 per cent stake in Camplify.
According to the prospectus, Camplify has experienced "massive growth" over the past two years, with a current rental fleet of over 5400 RVs.
It said the Camplify online marketplace has facilitated over 50,000 user bookings to date, helped hirers enjoy 1.5 million nights away, and distributed over $35 million to RV owners in Australia, New Zealand, the UK and Spain.
Camplify receives a platform fee for facilitating the transactions between owners and hirers, and generates additional income from complementary products.
The Aussie-born, AirBNB-style business is seeking to raise $11.5 million with the issue of 8.1 million shares. Upon listing on the ASX, it will have a market capitalisation of $58.1 million at the initial share price of $1.42.
Camplify is yet to turn a profit but had revenue of $2.9 million for FY2020, with that forecast to grow to $6.7 million in FY2021. Hire booking numbers are also forecast to grow from 13,424 (FY20) to 26,144 (FY21).
Camplify shares will begin trading on the ASX on June 28.
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