Indonesian fitness startup Fit Hub has secured US$6.5 million in funding to make health and wellness more accessible to all Indonesians.
The company raised US$3 million in seed funding in early 2022 from investors including Global Founders Capital, Trihill Capital, and Goodwater Capital, followed by a US$3.5 million seed extension round in December 2022 led by Wavemaker Partners, with participation from Trihill Capital, East Ventures, Gentree, and BAce Capital.
Fit Hub aims to expand its offline and online presence by opening 100 new clubs by year-end, offering free workout content, introducing e-commerce, and hiring more talent.
The funding will enable the company to offer free workout content and e-commerce for healthy foods, apparel, workout equipment, and supplements.
Fit Hub seeks to address challenges in Indonesia, such as high membership fees and limited access to quality facilities, by opening 100 clubs by year-end. The company continues to recruit talented individuals to join the expanding team.
Since its launch in August 2020, Fit Hub has expanded to 60 clubs across 14 cities in Indonesia, attracting over 50,000 paying members, with half being first-time gym-goers.
The startup’s success is partly attributed to its affordable pricing strategy of US$17/month, addressing a significant gap in the Indonesian fitness market where the average gym membership costs US$50/month.
Fit Hub digitizes the fitness experience and develops community-driven fitness centers, catering to the rising middle class seeking quality equipment, accessible facilities, and a welcoming atmosphere.
The company’s hyperlocal gyms are both high-quality and 50% more affordable than other options. The startup seeks to democratize fitness and address the increasing obesity rates in Indonesia, specifically among middle- to low-income households.
B. Paul Santos, Managing Partner at Wavemaker Partners, expressed his support for Fit Hub’s mission, stating that the company’s market positioning is distinctive. He added that he is excited to support Fit Hub’s development as it explores going regional in the coming years.
V. Ian Sulaiman, VP of Investments at Trihill Capital, shared insights on Fit Hub’s approach, noting that gym-goers prefer an environment that enables them to concentrate solely on their workout and leave promptly. This is why Fit Hub gyms are commonly found in standalone buildings, he said.