UK Investor Magazine are excited to announce that BUA FIT is now overfunded on Seedrs in their pre-seed funding round between private and public investors.
BUA FIT is a marketplace platform for outdoor and online group fitness classes. Their secret sauce is to connect fitness professionals to consumers with e-commerce and social fitness technology. Their team is posting well over 10,000 consumer transactions connected to trainers at their super early pre-seed stage.
They are backed by the founding partner of a venture capital firm and 5 professional athletes. This includes rugby superstar, Rob Kearney, and Australian marketplace founder, Kevin Cliffe, who floated his company on the London Stock Exchange. Cliffe says “The data is looking really strong for scale” after he re-invested with Kearney into the fitness tech brand. BUA means ‘victory’ in Gaelic and the brand comes to the table with further support from Google for Startups and London Sport’s Sport Tech Hub.
The appetite for health and fitness apps is strong with consumer spending jumping 70% in the last year in Europe to a record $544 million. This fundraise gives flight to their goal of reaching 1,000 classes a month whilst also deepening their product development based on customer feedback.
The raise currently supports a newly appointed Sales Manager, Sheikh Ceesay, who is heading up the corporate arm of the start-up. Sheikh comes with over 12 years’ marketing experience at the leading gym brand, Fitness First, he notes “BUA is filling a huge gap in the market and when Dave demonstrated the traction to date I could see how quickly this platform could scale and I couldn’t miss out on the opportunity.” This new hire brings the BUA team to 5 full-time with a total of 12 including part-timers, led by Dave Stapleton, CEO, and Sam Woodbridge, CTO. Stapleton bootstrapped the brand for just shy of 3 years to follow his passion in fitness.
BUA FIT’s founder and CEO, Dave Stapleton, comments,
“As it stands, we’re a tiny company with HUGE ambitions. Our unit economics is looking strong for scale. Over the next few years, the plan is to service millions of people to take the platform across the world. Before this though we need to prove the model further in London and the UK.”