Keeping India Fit
FITPASS purports to be the country’s single largest fitness membership service, offering access to 7,500 gyms and fitness establishments across 1277 Pin codes.
The Delhi-based fitness startup offers unparalleled flexibility to fitness enthusiasts by providing access to fitness centres across the nation. The premier Fit-tech brand has a strategic expansion plan, targeting 15 new cities in 2024. FITPASS boasts of having grown a network of 2,000 gyms and fitness centres over the past year alone.
Funding
The startup has raised altogether USD 3.86 million over five rounds of funding and is backed by institutional investors like Franchise India Holdings and Frost International. In its latest angel round of funding on 28 September, 2018, FITPASS secured USD 4,14,000, demonstrating continued investor confidence in its mission.
Franchise India Holdings is the largest institutional investor in the venture and the latest round of funding was led by Sunil Aggarwal. With over 15 investors, FITPASS has attracted support from both institutional and angel investors.
Competition
Ranked third among 101 competitors in the fitness tech space, FITPASS competes with brands like ClassPass and Fitternity. Its unique approach of offering a single membership for diverse fitness options sets it apart in the market.
FITPASS aims to democratise fitness by providing a single pass that grants access to various fitness centres, personalised coaching and a range of workout options. Its comprehensive approach aligns with the growing demand for flexibility in fitness routines. The startup operates in the gig economy and HealthTech market segments, catering to the B2C space. It is associated with ASR Market Ventures, which posted a revenue of USD 4,96,000 as of March 31, 2021.
Stressing on fitness awareness among the youth, Co-founder of the startup Akshay Verma, says, “Awareness of fitness and wellness is surging as a fundamental need in India, a nation with the youngest global population averaging 28 years, yet facing a health paradox where one in three individuals is medically unfit. This reality puts India's economic resilience and vitality at a crossroads.”
Verma goes on to say that “FITPASS anticipates significant enhancements that will not only significantly bolster the fitness sector in India, but also incentivise individuals to invest in their health proactively, underscoring this significance of physical fitness in the broader context of national development and personal growth.”
The startup is receiving great response from its users for its innovative approach, extensive network and commitment to flexibility. It is positioned as a frontrunner in the fitness centre space. FITPASS is looking forward to growing in the fitness market this year and to roping in more users.
