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UAE-based fitness and wellness startup Fit On Click has successfully raised $1.5M in its latest funding round as it continues on its growth journey through Ventures Lab, the Venture Builder program launched last year by Modus Capital and Hub71. The latest Pre-Series A round was led by Arrow Capital.
Founded by husband and wife duo Neha and Ben Samuel, Fit On Click has delivered fitness and wellness employee engagement programs to over 200 corporates to date. The startup also recently launched Fitze, a “reward as you move” app that incentivizes its users to earn coins and unlock rewards for every step they take.
As the pandemic forced most industries to rethink their modes of work, Sports & Fitness (S&F) startups have set forth to disrupt and decentralize the full experience. UAE being a hub of some of the most health proactive populations, with a fitness market value set to reach $600M by 2025, saw a remarkable funding surge in 2021. UAE-based Sports & Fitness startups have been successful at gaining investor traction, where S&F funding rounds in 2021 have grown by more than 380% YoY, closing 3 more deals in 2021 than in FY 2020 to reach a new all-time high of 7. Major rounds in 2021 were closed by digital platforms that worked on bringing the workout or personal trainer experiences home, with major rounds closed by UAE-based Enhance Fitness, Fitlov, Steppi, and most recently Fit On Click.
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Fitze was initially released in Beta to encourage residents to stay active during the COVID-19 lockdown. Since its official launch, the app has accumulated a base of 20,000+ users, hosted multiple corporate challenges, and partnered with over 100 brands to provide diverse rewards. Reflecting on the impact of this latest investment Ben Samuel Founder/CEO of Fit On Click stated, “The investment came at the right time for us. Fit On Click has been in the industry for the past 5 years and we have always focused on innovative and customized health solutions for corporates. We are now widening our efforts to include individuals and communities through Fitze, which was born from a vision to empower and reward UAE residents for each step they take.” Samuel added, “With the support of Arrow Capital and Ventures Lab, this funding round will allow us to strengthen our online product and scale faster in order to help our communities build and sustain active lifestyles.”
The startup is one of a select few that has been accepted into Ventures Lab - the Venture Builder program run by Modus Capital, a Venture Builder and VC fund, and Hub71, a flagship Abu Dhabi government initiative that enables innovation and growth opportunities for tech startups. Based out of Abu Dhabi, Ventures Lab empowers entrepreneurs to accelerate transformational ideas and build sustainable and scalable startup ventures. Fit On Click joined the program with a particular focus on strengthening and scaling Fitze. Modus is working operationally with the team to refine its product, strengthen the tech platform, and execute on user growth and retention strategies. Tania Minato, MD of UAE Venture Builders at Modus Capital shared her hopes for the team, “Ben and Neha are exactly the type of founders we like to work with. They are extremely driven and have an unwavering desire to transform the fitness space in the region. We’re proud of the progress they’ve made throughout the program, and we’re excited to continue working hands-on with them to empower their users to leverage tech positively and live a healthier, more fulfilled day-to-day life.”
This round marks the first time Fit On Click has raised institutional funding after being self-funded since conception. Prior to this, Ben and Neha bootstrapped the startup and managed to successfully sustain themselves throughout product launches and user growth. With the newly raised Pre-Series A funds by Arrow Capital and the operational expertise from Ventures Lab, Fit On Click is expected to rapidly scale to the wider MENA region in the near future. Arrow Capital, the lead investor in the round, will act as the financial and strategic advisor to Fit On Click. Sumit Mehta, Managing Director at Arrow Capital concluded, “We are thrilled to be investing in Fit On Click, a self-sustaining sports and fitness services business which has recently pivoted and launched a digital app. Fitze highlights Ben and Neha’s ability to shift with market needs and create innovative ways to increase engagement between users and consumer brands, and we look forward to joining them on their journey of inevitable growth.”
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