PayasUgym shapes up with £1.6 million in funding

payasUgymPayasUgym, the UK’s largest fitness network, has raised a £1.6 million funding round, led by Albion Ventures and MMC Ventures and again by existing investors, bringing the total investment to date of £3.5 million.

With 12 million ex-gym members in the UK (double the amount of gym members) PayasUgym offers flexible, discounted gym passes nationwide, disrupting the existing and onerous model of year-long subscriptions.

Founded in 2010 by Jamie Ward and Neil Harmsworth, PayasUgym enables gym goers to easily locate gyms and health clubs online and then purchase flexible, discounted gym passes for one-day, one-month or three-month periods.

Passes are sent to the customer by SMS and email and can also able to leave feedback on their experience and request information on membership deals at specific clubs. With more than 1,700 health clubs now available on its website, the website now provides access to one in three of all UK health clubs and gyms and has generated more than 100,000 customer reviews.

“We’ve built a strong and dedicated network of angel investors and now we are entering a new stage in the life of PayasUgym that requires ‘next-level’ investors. I’m delighted to welcome Albion and MMC to the party not only for the funds but also the guidance and support they can offer us from their extensive networks and experience of scaling young companies,” said PayasUgym CEO, Jamie Ward.

Monty (632 Posts)

Monty Munford has more than 15 years' experience in mobile, digital media, web and journalism. He is the founder of Mob76, a company that helps tech companies raise money and exit. He speaks regularly at global media events with a focus on Africa, writes a weekly column for The Telegraph, is a regular contributor to The Economist, Wired, Mashable and speaks regularly on the BBC World Service.