Rome-based Fitprime nabs €2.5 million to expand its online workout and gym platform

Italian startup Fitprime, a digital platform dedicated to the fitness world that allows people to keep fit both in the gym and at home, has raised approximately €2.5 million. The round was led by Vertis SGR, through the Vertis Venture 2 Scaleup and Vertis Venture 4 Scaleup Lazio funds, with existing investors (LVG, IAG and Club degli Investitori) also taking part.

Created in 2016 through the Luiss Enlabs acceleration programme, Fitprime offers access to a large network of thousands of sports centres throughout Italy, via a single monthly subscription. In 2018, Fitprime launched its Corporate solution, a platform entirely dedicated to Corporate Wellness that allows companies to promote the well-being of their employees by focusing on nutritional, physical and mental aspects. This B2B service is already used by major companies such as Capgemini, BIP, McDonalds, Sky and KPMG.

During the closure of sports centres for the containment of COVID-19, Fitprime was committed to creating another line of business; it designed and launched in record time a new portal entirely dedicated to home workouts, with thousands of on-demand and live classes held by the best trainers, which it calls Fitprime TV.

Thanks to their new fundraising round, the Fitprime team intends to consolidate its presence in the Italian market, reaching more than 3,500 partner sports centres, accelerate the growth of its Corporate solution and continue the development and diffusion of Fitprime TV, starting its internationalization process.

Matteo Musa, Fitprime CEO and co-founder, stated: “Thanks to Fitprime TV we have in fact extended our offer to the home workout – or as we have renamed it, the “smart-workout” – to stand by all those who have had to embrace smart working. This product has allowed us to enrich even more the offer intended for the B2B market, allowing us to maintain a high number of active users despite the forced shutdown of sports centres. Today we are very proud to have found the support and trust of Vertis SGR and our previous investors, who recognize the potential of our reality and who will accompany us towards a new phase of development that will be crucial for Fitprime’s growth and future”.

Alessandro Pontari, Senior Investment Manager at Vertis, said: “The health & fitness industry has significant room for growth in the digital sphere, and the period we are going through has accelerated this transformation process, changing the way we enjoy sports activities. In Fitprime we have found the best possible response to this need, and the team led by Matteo has demonstrated a great ability to penetrate new channels, entering the B2B segment, and to quickly launch new products on the market, such as Fitprime TV, dedicated to home-workouts”.