FITPASS Raises $1 Million In Seed Funding
Co-founder Arushi Verma says FITPASS model has low customer acquisition costs, loyal users and low churn rates
FITPASS, the all-access pass to gyms and fitness studios, has raised $1 million in seed funding from Mumbai Angels and a consortium of Delhi and Bangalore based Angels.
FITPASS, a pioneer in the fit-tech space in India, breaks all the barriers to fitness for the its consumers. Priced at only Rs 999 a month, this all-access app based pass is not only significantly cheaper than a regular gym membership but also provides its users freedom from long term contracts and yearly upfront payments.
Available on iOS & android, FITPASS is economical, convenient and offers every workout imaginable, ranging from gym workouts, yoga, zumba, pilates, spinning to kickboxing, MMA and many more. With the highest density and largest partner network of gyms and fitness studios, FITPASS users can work out anywhere, anytime close to their homes, offices and neighbourhood markets.
Co-founder Arushi Verma points out that "with fitness being increasingly top of mind, FITPASS' model has low customer acquisition costs, loyal users and low churn rates, contributing to a strong and sustainable business model".
FITPASS has been at the forefront of innovation to create a sustainable health and fitness ecosystem in India. Despite bootstrapping for 12 months, FITPASS successfully established itself as the undisputed category leader.
A participating investor said that "unlike many start-ups, FITPASS is both cash generative and profitable."
FITPASS co-founder, Akshay Verma, explained how fitness is an assistance oriented service segment that requires a lot of customisation and enhancement for each individual user - "there is no one size fits all in fitness."
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