Fit Hub banks $6.5m to make exercise more affordable

Photo credit: Fit Hub

Living a healthy lifestyle can be burdensome and expensive. Indonesian startup Fit Hub is on a mission to democratize health for middle- and low-income households in Indonesia by offering affordable gym memberships.

In Indonesia, the average membership costs US$50 per month, while the startup charges US$17.

Since being founded in 2020, Fit Hub has opened up 60 offline clubs across 14 cities in Indonesia. It plans to open 100 clubs by the end of the year.

The company says it has attracted over 50,000 paying members, half of which are first-time gym goers.

Funding details

• Funding amount: $6,500,000
• Lead investor: Wavemaker Partners
• Other investors: Global Founders Capital, Steven Wongsoredjo, Trihill Capital, Benedicto Haryono, Robin Tan, Abhinay Peddisetty, Goodwater Capital, Phillip Tjipto, Gentree Fund, East Ventures, BAce Capital
• Stage: Seed
• Source

The firm also allows investors to open their own gyms under the Fit Hub name. The company said that interested parties can earn up to 95 million rupiah (US$6,397) per month at a 17% management fee.

The fresh funding will be used to hire more staff, develop free workout content, as well as form an ecommerce presence for apparel, workout equipment, healthy food, and supplements.

More details