HURST Corporate Finance has added its muscle to a deal which secured significant investment for a gym management software company to pursue the next phase of its global expansion.
Fit Cloud Technology has received funding from NPIF Maven Equity Finance, which is managed by Maven and is part of the Northern Powerhouse Investment Fund.
Ben Bradley, an associate director at HURST Corporate Finance, advised on the investment.
Fit Cloud Technology, trading as Membr, currently operates in 23 countries. It is based in Worsley, Greater Manchester.
Founded in 2010 by chief executive Jack Malin, the business operates a cloud-based, fitness focused management software platform which enables gym owners, personal trainers and clients to interact with each other more effectively.
Users can book classes via the app, access bespoke training plans from personal trainers, collect data from internet enabled equipment, track results and make payments.
Ben said: “It has been a pleasure assisting Maven and Membr with the investment.
“The SaaS platform is well-placed to demand a greater share of the global owner-managed segment of the gym and fitness sector. We wish Jack and the team all the very best at what is an exciting time for the business as it embarks on the next phase of its growth.”
Mark Winthorpe, of Pannone Corporate, provided legal advice to Maven on the investment.
Are you considering Private Equity investment? Click here to find out how we can help.