CEO Oriol Vinzia checking up with his team at their Poble Nou offices.

The Barcelona-based startup will in October launch new features to their product, and let people work out across borders in both Spain, France and Italy. This was a natural move for the startup that recently have grown a lot in the B2B market, says CEO Oriol Vinzia:

We work with international companies that have workers that travel a lot. If you live in Barcelona, but work a lot from Paris, you’ll be able to choose amongst hundreds of gyms in both cities with our programs.

The itnig company recently closed a bridge round of €160.000 to keep focusing on their technology, as they’re planning on closing an A-round in the beginning of 2017 explains Vinzia:

We’re aiming for a round of €1 million or more, so we’ll start approaching investors from October.

2017 will be the year people talk about the disruption of gyms

At least that’s what CEO Vinzia think is coming as one of the big industries of disruption next year.

There are several big online gym marketplaces that are growing, and we’re the biggest one in southern Europe. I think the industry we’ll read a lot about the next year, is the disruption and digitalization of gym-services.


Brazilian competitor Gympass recently landed in Spain, but they’re only focusing on the B2B market, says Vinzia.

We’ve already established a strong B2C market of thousands of users, and we’ve recently seen great growth in our B2B market. Our challenge now is to find the perfect balance for our focus on the two markets.

Crossing the million mark

GymForLess offers three different programs that gives you access to hundreds of gyms. Here’s the map of Barcelona.

GymForLess had a turnover of €350.000 last year, and expects a turnover of €1 million by 2016, according to the CEO:

By 2017 we’re predicting a turnover of €2.5 million.

The company will now focus heavily on their tech product. With over 100.000 active users on their app they aim to add additional features that goes beyond working out and locating a gym.

We want to add personal trainers, possibly a marketplace to buy gym clothes, but also to add a social layer between the clubbers, so friends can challenge each other, and compare results from their exercises.

CEO Vinzia also adds that they’re looking into possibilities with connecting the app to pulse watches and other devices.

……..

This post was written by Sindre Hopland, media manager at itnig.

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W.

WeWork running out of cash & Faraday on bankruptcy

This is the Newsletter shared on the 21st of October. If you wish to receive newsletter faster, you can subscribe here: https://itnig.net/newsletter ​​

Hi entrepreneur,


After raising €25M, Bnext is opening a new… crowdfunding round! The neobank is quickly growing like many other fintech startups. Don’t lose count and check out the European unicorn landscape.

On the other side of the spectrum, the once-claimed Tesla competitor Faraday files for bankruptcy. Other manufacturers are racing to capture the growing electric vehicle opportunity.

Of course, WeWork also had its show time this week as we got to know that it might run out of cash by mid-November. Oh, and totally unrelated, if you are thinking of changing offices, check out our options available at Itnig😜

– Itnig’s team

Podcast #111: How to boost your startup growth with Glovo and Ulabox

In this week’s podcast, Glovo and Ulabox are two companies having a business model based on a big number of operations. On the one hand, Ulabox is an online supermarket that stocks and ships items everywhere in Spain while Glovo is an on-demand courier service.

In this episode Eduard Cabanas (CFO at Ulabox) and Eduard Ros (CFO at Glovo) answer topics like how to get your company ready to rapidly grow and which metrics to pay close attention to keep on the right path.

This week’s podcast is brought to you by Factorial, the HR software that does all the heavy work for you. Start now managing your company with advance reports, time & attendance signing and muc more!

New funding for startups