Fiit Enters New Chapter with £1M+ Raised in Crowdfunding
In a market worth $13 billion, leading U.K. fitness app Fiit exceeded the fundraising goal of £1 million prior to its crowdfunding campaign deadline. With more than enough new capital, the company’s objectives for attracting new clients and product development appear well within reach
Once dubbed by Forbes as “the Netflix of Fitness,” Fiit has raised over 1 million pounds in a crowdfunding campaign, hitting the target of £1m in just seven days. The number one rated fitness app is expected to attract more fundraising dollars and the interest of new users when the campaign ends near the end of April. The campaign gives members a first-come opportunity to invest in Fiit.
“We’re about to enter a hugely exciting new chapter at Fiit,” CEO Dan Shellard states. “Having secured our target so early on is not only a huge accomplishment, but it gives us added credibility to the direction Fiit is moving towards. Now that gyms and studios are reopening, we have big plans for the future of the company — plans that will see us continue innovating the connected fitness industry, whilst also driving forward change towards what we see will be a hybrid and digital future.”
Shellard continues, “This latest raise will not only allow us to achieve those goals, but also support us in investing into the core Fiit product so we can better serve our growing community. We want to invest back into our members by developing new features, innovating new products and spaces, and even better mat class. And this raise will support us in doing so.”
Since its launch in 2017, Fiit has held on to its steady popularity with over 1 million downloads and counting and revenue growth of 800%+ from 2019 to 2021. Scores of interactive classes including Pilates, Strength, Functional Fitness, and Mobility, led by world-class personal trainers are wrapped up in either a monthly or yearly membership at cost-effective prices. The company is also best known for introducing the world’s first interactive AssaultBike workouts via collaboration with functional fitness equipment manufacturer Assault Fitness.
With the money raised through their latest crowdfunding operation, Fiit will be able to provide its community of more than 100,000 members with further support in their adoption of hybrid fitness, the creation of more on-demand workouts, a new product line of Functional Fitness equipment-based products, and an “industry-first, Connected Gyms experience,” among other sought-after options. Shellard declares Fiit being in a very fortunate situation in regards to this.
“Now, through smart innovation, we are in a position to where we’ve not only tested the UK’s first Connected gym model with WIT London and The Gym Group but also outlined plans to facilitate building a range of industry-first interactive functional fitness experiences; those that facilitate the new normal and and future hybrid of digital and in-gym workouts,” he reveals.
Fiit’s desire for community growth and future development of classes and connected equipment has led to its present crowdfunding effort. Judging from the organization’s enormous success thus far, it appears potential investors and shareholders may want to jump on Fiit’s fast-moving bike before it’s too late.
