Overfunding: Online Fitness Marketplace MoveGB Quickly Secures £1 Million Funding Target on Crowdcube

MoveGB, an online fitness marketplace, has successfully secured its initial £1 million funding target through its equity crowdfunding campaign on Crowdcube. Founded in 2013, MoveGB has more than 6,000 activity providers and 350,000 registered users. The company claimed the third fastest growing UK business in 2017’s Deloitte Fast50.

“MoveGB is a purpose-driven business set to expand across the UK & rest of the world. We are grateful for the partners & members that have been part of the journey and wish to offer the opportunity for our community and the public to be a part of our success story by becoming a shareholder alongside institutional investors.”

MoveGB also reported that its platform “unites operators” to offer a variety of membership to a brand new type of fitness consumer looking for variety and convenience to keep them engaged.

“‘Movers,’ as we call them, spend a lot on keeping active. In fact, they are twice as active as the average gym goer – they are true VIP’s! They love trying something new…from gym, swimming and classes to dancing, climbing, golf and many other specialist activities available through the network.”

MoveGB went on to reveal that it has more than 2800% increased its value from 2013-2017 as well as had a 5.6 million annual revenue (with 2.9 million annual revenue from Bristol alone). It has provided for 10% of the total active population in Bristol, with over 800 activity providers. Funds from the Crowdcube round will be used to continue the growth and development of the MoveGB platform. The campaign is currently set to close mid-February.

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