MADRID, May 20, 2020 /PRNewswire/ -- The minimfit startup, specialized in 'home fitness', has started a new financing round for an amount of 150,000 euros with the aim of launching its interactive virtual gym and undertake its international expansion.
On this occasion, the company has resorted to crowdfunding, which will allow any type of investor to become a shareholder. The platform chosen for raising capital has been the British Crowdcube. The company's pre-money valuation stands at 1.75 million euros.
For Juan Vilarrasa, founder and CEO of minimfit, "the current market is betting on home fitness, and the situation experienced with COVID-19 reinforces the initial bet of the company, that began a few months before confinement. Our value added comes from the differentiation by the quality of the content, the interaction and competition between users and the structure of the programs which differentiates it from other channels such as YouTube or Instagram. In addition, we provide the extensive experience of a team that has been working for years in the sector".
The current growth rate of the sector, applications and services offered, confirms that minimfit is on the right track since its creation and its growth goes through internationalization. "With this round of financing, in which anyone can become a shareholder, what we will tackle is the entry into new markets with the aim of being present in 13 countries by 2021," said Vilarrasa.
minimfit is committed to a subscription model, with access to on-demand and live sessions. Juan Vilarrasa stresses that "current and potential customers have little time to go to the gym and prefer to train from home, but in a connected and monitored way through their smartwatches, now, safety will be valued in the health section".
minimfit will thus be able to know the preferences of its subscribers, "from the time they train, preferred disciplines, instructors, music or the duration of the sessions. This provides us with the information that allows to suggest personalized content, improving the user experience, as Netflix does through your preferences," explains Vilarrasa.
Currently minimfit has a recording studio in the center of Madrid and is developing its interactive virtual training platform that will soon be launched to the public. In 2017, The company was part of the Lanzadera acceleration program, promoted by the Spanish businessman, Juan Roig. In 2018 they raised 250,000 euros that allowed them to open a boutique studio in Madrid.