$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Nick Sutherland from Ottawa, ON, pitched WetRentals in Season 19, Episode 10, asking the Dragons for $100K for 10% of the company.
- Asked for$100K for 10%
- Valuation$1Mimplied by the ask
- OutcomeDealwith Brian Scudamore and Michele Romanow
- Final deal$100K for 30%valued at $333K
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Wes Hall | Felt founder was not the right person to build the business to scale; no offer | Out |
| Manjit Minhas | Not enough bottom line profit to justify investment | Out |
| Arlene Dickinson | Felt founder needs a right hand to help execute; no offer | Out |
| Michele Romanow | $100,000 for 25% | Withdrawn |
| Brian Scudamore | $100,000 for 25%, later joined with Michele Romanow for 30% combined | Accepted |
Nick, a software developer from Ottawa, Ontario, asked for $100,000 for 10% of WetRentals, an online marketplace for boat rentals similar to Airbnb. Founded in 2020 with two Sea-Doos, the platform now manages nearly 20,000 listings across 41 countries, taking a 20% total commission split evenly between renters and boat owners. The company did $585,000 in bookings last year, generated about $160,000 in revenue, is on track for $1.5 million in bookings this year, has invested $100,000 of the founder's own money to build the technology, and burns about $2,000 a month with only two contractors and no founder salary.
Wes Hall, Manjit Minhas, and Arlene Dickinson all went out, feeling the founder was too conservative in his ambitions and needed either more bottom-line profit or a stronger operating partner. Michele Romanow offered $100,000 for 25%, and Brian Scudamore matched that offer, citing his hotel and marina industry connections; the two Dragons then combined forces for a joint offer of $100,000 for 30%, which was accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
WetRentals today
- StatusIn businessLast checked September 2026
WetRentals is still operating and sells through its website.