payasUgym an online gym network has beefed up with $1.4M funding- International Expansion « iPhone Application Reviews | iPhone Latest News | iPhone Latest Reviews

payasUgym an online gym network has beefed up with $1.4M funding- International Expansion

Glenn

payasUgym is a London based site which lets the users to search and buy different discount passes for the local gyms has announced its extension in investment of about $1.4M or £900,000, led by current private investors and Supremum Capital. In 2011, this company was established and now they are accounting for £2 million.

payasUgym is an online gym network which is working for introducing flexibility to the fitness market. They have made it easy for the customers to shop around gym accessories and short term membership basing from one to three months on discounted prices as compared to the price paid at door. Users just have to make their registration and buy credit from the prepaid mobile phone companies. The site allows users to search health clubs and gyms by locality and they will get their passes on their phones, via SMS.

This site was launched in 2011 and since then they have attained 1000 health clubs and gyms. This means that payasUgym has become representative of almost 20% of the UK market. The site has also claimed that they are having around 2 million customers which send gym search request, each month.

The cofounder and CEO of payasUgym, Mr, Jamie Ward said that new capital will be employed in fueling the growth and developing the new services. At the same time, UK startup has hinted that the new concept may be is to go for international expansion. They will become the first one in the international market, and Gympass is the closest competitor to the payasUgym.

Mr. Denis Shafranik, the partner of Supremum Capital has given a statement that, “We find UK gym market as the tip of iceberg for payasUgym.com theme. And we are quite delighted to get involve with the growth of company encountered over the last years.”