BeFITsocial to raise $3 mn; eyes Asian markets for growth

beFITsocial, a fitness solution marketplace, is in talks with institutional investors to raise USD 2-3 million as it eyes expansion in India as well as other Asian markets like Singapore, Hong Kong and Kuala Lumpur.
The app allows users to choose sessions for gyms, pilates, yoga, boxing, dance, tennis and martial arts.
"Our app allows consumers to discover, evaluate, book and pay for fitness services, whether they are near their homes or travelling. In 2014, over USD 200 billion were spent globally on health and fitness services," beFITSocial.Com founder Gaurav Sharma told PTI.
He added that the company is aiming at building an open platform to include thousands of fitness studios and trainers.

"We are in discussions with institutional investors and super angels to raise USD 2-3 million (about Rs 19 crore) in the next 4-6 weeks. This will be our first round of financing," he said.
BeFITsocial currently operates with over 35 premium fitness studios in Mumbai and plans to launch services in Delhi-NCR, Bangalore, Chennai and Pune soon.

Using the app, the user can choose the time, venue (in case of multiple locations) and duration of the workout in their locality as per their convenience by paying per session.
"The beFIT app is will also be launched in Singapore, Hong Kong, Manila and Kuala Lumpur within the next couple of months," Sharma said.

The aim is to have 10-15 million users with access to about 2,500 fitness studios in the next 2-3 years, he added.
"Since these are premium studios, a lot of time these go empty. The app also helps the partners plan their inventory better and can make offers to users to make the best utilisation of their space," he said.