The financial injection for the Fitness technology company Egym is joined by its new investor Affinity Partners, a global investment firm based in Miami, USA, as well as existing investors Mayfair Equity Partners and Bayern Kapital. At €207 million, the financing round is one of the largest in the portfolio of the Seed investors High-Tech Gründerfonds (HTGF).
107 million euros will be invested immediately, with a further 100 million euros available for future investments. Investments will focus on the development of further innovative digital solutions for health-oriented training and the massive expansion of Corporate fitness network WellpassThe Egym Group says it is currently growing by 70 percent year-on-year and expects to close the 2023 fiscal year profitably, while investing significantly in future growth. Nearly 16,000 studios worldwide are said to already use the startup's products and services, including many of the largest enterprise studio chains.
Dr. Alex von Frankenberg, Managing Director of HTGF, commented:
"We have been supporting Egym since 2011. The company is contributing to two megatrends: fitness and health through connected and intelligent fitness equipment. Egym also offers employers a very attractive range of diverse fitness options for their employees through Wellpass. In an increasingly competitive job market, Egym helps employers become significantly more attractive not only to the younger generation, but to all employees."
Philipp Roesch-Schlanderer, co-founder and managing director of Egym, adds:
"HTGF is not only one of our early investors, but above all a partner who has always believed in us and our business model. They are an important contact, even in turbulent times. We would like to thank them for their trust. We are pleased that we can continue working on Egym together."
