Source: MAGNiTT
The UAE-based Fitness startup and on-demand Personal training platform Fitlov has successfully raised $500K through angel investment in its latest Pre-Series A fundraise. In doing so, Fitlov joins the latest streak of investments backing sports & fitness startups in the UAE.
Founded in February 2018 by childhood friends and fitness enthusiasts Alberto Pardo and Alvaro Zapata along with their partner Zena Hamdan, Fitlov launched as a ‘super app’ for fitness providing “a one-stop-shop app to get fit and build a healthy lifestyle”. The app connects users with personal trainers, nutritionists, and physiotherapists instantly. It not only allows users to satisfy their physical needs and hit requirements, but also provides them with a consolidated platform to track their progress and activity.
Fitlov has been in the market for 3 years making significant progress. Today, Fitlov has 13 full-time employees, a renowned regional angel investor, a full in-house Tech-team, and multiple partnerships with big corporations. Fitlov revenues grew 10x during 2020 despite COVID, and in 2021, they continue to grow rapidly. According to founder and CEO Alberto Pardo, the simplicity yet comprehensiveness of the platform was at the core of their success.
“We follow a holistic approach in which our clients get paired with one trainer and one nutritionist to ensure they achieve their fitness/health results. Our fitness professionals are freelancers that choose to work with Fitlov because of the ease of working and good conditions,” Pardo said.
The UAE-based startup plans to utilize its newly acquired funds to fuel its expansion into other regions as part of a possible long-term strategy. This latest investment enables Fitlov to further develop its platform and tech stack, expanding beyond being a service marketplace by leveraging AI to provide personalized assessment and recommendations for each user.
“We are concentrating our efforts on our new technology which we expect to launch in October 2021. We picked this idea because we believe there is a big gap in today's fitness & wellness offering, and people are more interested in fitness & wellness than ever before. We live in the age of the platform economy - however, there is no established platform connecting the best fitness & wellness specialists in a seamless manner. So we believe we can make a difference and help users live their healthiest version of life, and help the fitness & wellness professionals grow with the help of tech,” co-founder Zena Hamdan concluded.
