Myanmar-based health and fitness app Flexible Pass is expanding its categories in the wellness industry after securing a six-digit pre-Series A funding from its existing investors.
Founded in March 2017 by Sully Bholat, Flexible Pass gives users access to over 70 places – gyms, fitness centers, and hotels – for their fitness needs. The startup handles thousands of bookings per month.
Since its launch, Flexible Pass has signed up over 1,000 monthly active users who make over 2,500 bookings per month. The app saw its biggest month-on-month growth of 30 percent last month.
Bholat said Flexible Pass has about 50,000 Facebook followers and the mobile app has been downloaded more than 5,000 times through Google Playstore and iOS.
With the fresh funding from existing investors Seed Myanmar, Yangon Capital Partners, and Nest Tech, Flexible Pass said it will expand into wellness industry by developing a new subscription-based business-to-business product by the end of 2019.
The startup currently operates in the fitness market in Yangon, Pyin Oo Lwin, and Mandalay and hopes to penetrate the country’s wellness industry by offering spa and beauty services, among others.
“Flexible Pass has undergone remarkable growth in the last 10 months as we entered a new phase this month and I believe there is still a lot of potential to grow even further in this fitness and wellness industry of Myanmar,” said the startup’s founder and CEO Sully Bholat.
A graduate from Founder Institute, one of the premier idea-stage accelerator and startup launch program in the world, Flexible Pass was also selected as the top two percent of graduates out of 3,300+ Founder Institute Graduates across six continents and became a part of the Select Portfolio which represents the elite companies.
On its website, Bholat said he came up with the idea of Flexible Pass when he was accepted into the Founder Institute Program. Bholat holds a Bachelor of Business Management degree from the University of Queensland in Australia and moved back to Myanmar after graduating in December 2015.