In brief: Vietnam gym class app books $1m funding

WeFit has successfully raised US$1 million in a pre-series A round from CyberAgent Capital and some other regional VCs.

WeFit is a mobile platform providing users subscription packages for fitness and beauty services across over 1,000 locations in Hanoi and Ho Chi Minh City. Via WeFit, users can search and book for fitness and beauty sessions located nearby. At the same time, WeFit’s partners – including fitness centers and beauty spas – can optimize operational costs and increase profit gain by receiving traffic coming from WeFit.

Source: WeFit

WeFit said it handles over 150,000 bookings per month, and has helped its vendor partners to increase monthly profit by an average of 10 percent.

According to the startup, the investment will be used for new product development as well as to expand to a new market. It indicated it’s close to having a million users signed up, and is aiming to close a full series A round later this year.

Earlier this week, US fitness booking app ClassPass announced that it will acquire Asia-focused rival GuavaPass for an undisclosed sum.

ESP Capital and Vietnam-focused accelerator VIISA invested in WeFit’s US$155,000 seed round in 2017.