Sequoia-backed KFit scores $12m in series A for further expansion

Malaysia-based KFit, an app that offers unlimited access to gym and fitness classes in the region, today announced it has raised US$12 million in series A funding to branch out into new categories as well as markets.

The round was led by Venturra Capital, with participation from Susquehanna International Group and Axiata Digital Innovation Fund. Earlier investors Sequoia Capital India and 500 Startups also put in some money.

This new round is hot on the heels of KFit’s seed funding of US$3.25 million in July 2015, led by Sequoia, and pre-seed funding in April.

Co-founded by Joel Neoh, former head of Groupon Asia-Pacific, and Chen Chow Yeoh, KFit offers access to multiple gym and fitness options for a fixed fee – a business model similar to ClassPass in the US. The app aggregates a supply of over 300,000 wellness activities from 5,000 partner studios and gyms each month.

You can search for an activity by type or location, and reserve a class on the app. KFit says it has recorded over 250,000 reservations in the last six months alone.

The app is available in 10 cities across Asia-Pacific, including Singapore, Taipei, Seoul, and Manila. It’s also now available in Auckland and Perth following a merger with competitors in New Zealand and Australia.

“The new funding will enable KFit to expand in the region and invest in its technology, operations, and marketing to further solidify its leading position,” the company’s statement says, adding that its expansion “will go beyond just fitness.”

Joel tells Tech in Asia in a phone interview that they’re moving into new verticals such as massage, spa, and beauty services.

(Updated to include our interview with Joel Neoh.)