Brazilian startup Gympass has raised $300 million from SoftBank’s Vision Fund, SoftBank’s Latin America fund, and other backers to get office workers into the gym.
Gympass has a presence in Latin America, Europe, and the US, and will use the money to build out its technology and expand to Asia.
Gympass partners with big companies to lure employees who don’t have gym memberships into doing workouts.
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Brazilian startup Gympass has raised $300 million in new funding led by SoftBank’s Vision Fund to speed up its international expansion. SoftBank’s Latin America fund is conditionally part of the raise, while existing backers General Atlantic, Valor, and Atomico all joined the round.
Gympass partners with employers to offer corporate wellness schemes, providing employees who sign up with discounted gym memberships.
Gympass was founded by Cesar Carvalho in Brazil 2012, after he dropped out halfway through his MBA programme at Harvard.
In the last seven years, it has expanded further into Latin America, Mexico, the US, and Europe. The firm is now headquartered in New York and plans to use the cash injection to fund its expansion to Asia, Carvalho told Business Insider.
Carvalho said Gympass was different from services like ClassPass, …read more
Source:: Businessinsider – Technology