1Fit

History

2023: Raising $1 million in investments

In mid-June 2023, it became known that the Kazakhstani fitness startup 1Fit attracted investments in the amount of $1 million and decided to leave the British market.

The company has 1Fit developed an application that offers a unique single fitness subscription. At the beginning of 2023, the startup began operations in London, and by June of the same year attracted more than 50 partners-halls. However, due to the peculiarities of the British market, further business development on it turned out to be inappropriate.

Kazakhstani fitness startup 1Fit attracted investments in the amount of $1 million

We developed in Kazakhstan, and then in Uzbekistan, Kyrgyzstan - and all these launches were easy for us, they were made according to understandable algorithms. But the launch in London turned out to be a completely different story, it was, in fact, a completely new startup. And we could not apply all the mechanisms debugged in Asia in London, - Forbes.kz quotes the words of the founder and executive director of the 1Fit Murat Alikhanov.

It is reported that one of the main investors in the 1Fit is the TMT Investors fund. After the news that the startup was leaving the British market, this organization provided an amount of $500 thousand for 1Fit development. Another $100 thousand was invested in the company by the Estonian Capital Mill fund, and the startup received $400 thousand from the syndicate of Kazakhstan's digital nomads, which work in the world's IT giants.

Thus, in total, the company raised $1 million. These funds will go, among other things, to expand geographical coverage. By the end of 2023, the 1Fit plans to organize work in three countries -, and in Turkey Azerbaijan one of the countries of Southeast Asia (as possible options are considered, and Malaysia). Indonesia Thailand The idea of ​ ​ joining USA the company was excluded from its strategy. According to the results of the financing round, the market value of the 1Fit is estimated at $41.5 million. Why^[1]

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