Fitprime, a digital platform that allows everyone to keep fit both in the gym and at home, has just announced it closed a capital increase of 2.5-million-euros. Vertis SGR, as lead investor, joined the operation through the funds “Vertis Venture 2 Scaleup” and “Vertis Venture 4 Scaleup Lazio“, along with the previous shareholders, LVenture Group, Italian Angels for Growth (IAG) and Club degli Investitori.
Fitprime was founded in 2016, thanks to LUISS EnLabs, the Acceleration Program of LVenture Group, and since then it has been quickly escalating the fitness market, becoming a reference point and the easiest wayto access thousands of sports centers all over Italy, just with a monthly subscription and without any restrictions. In 2018 Fitprime launched a platform entirely dedicated to Corporate Wellness that allows companies to promote the well-being of their employees by focusing on nutrition, physical and mental health.
While sports centers closed down in order to contain the spread of infections from Covid-19, Fitprime took the chance to create an additional business line in record time. As a matter of fact, it launched Fitprime TV, a new platform totally dedicated to home workouts, with thousands of on-demand and live lessons by the best trainers.
Thanks to this new round of investment, Fitprime team intends to keep growing on the Italian market, reaching over 3,500 sports centers for new partnerships, while growing its Corporate solution and promoting Fitprime TV, starting its process of internationalization.
Matteo Musa, CEO and co-founder of Fitprime, said: “The way we think about wellness is a constant challenge to revolutionize it: that’s why we founded Fitprime. The sudden closure of gyms and sports centers challenged us to find a new solution to carry out our vision, turning a threat to our business into a new opportunity. Thanks to Fitprime TV, we have actually extended our offer to home-workouts, to support all those who embraced working from home. This product has allowed us to strengthen our offer for the B2B market, retaining a high number of active users despite the forced stop of training in gyms. Today we are really proud to start a new chapter with Vertis SGR and our previous investors, who acknowledged the potential of our company and will join us in this new, crucial phase of our growth.”
Alessandro Pontari, Senior Investment Manager of Vertis, declared: “The health & fitness sector has a significant space for digital growth and the pandemic has accelerated this process of change, shaping the ways we will do sports from now on. In Fitprime we have found the best possible answer to this need Matteo’s team has shown a great ability to conquer new channels, entering the B2B segment, and to quickly launch new products on the market”.
Luigi Capello, CEO of LVenture Group, declared: “Fitprime has been able to react to the changes imposed by the pandemic, developing Fitprime TV in just a few weeks and transforming a difficult situation into a business opportunity. The team has shown great resilience and adaptability, perfecting their offer in a market which is estimated to grow at an annual rate of over 30%, reaching 60 billion dollars, in the post-Covid scenario. This new, investment round will consolidate the startup’s leadership on the Italian market and will support it in the scale-up at an international level”.
Antonio Leone, President of Italian Angels for Growth, and Giancarlo Rocchietti, President and Founder of the Investors Club, concluded: “With this new investment, we put our trust in Fitprime once again. Even in 2020, the team has proven to be able to face new challenges, through an excellent team who was able to intercepti new needs and pivot its offer according to the restrictions due to the pandemic, but always shaped around people’s needs and well-being “.