Moscow, November 6, 2017 — BGP Litigation has acted as an exclusive legal adviser in a transaction aimed to raise $1 million for 20% of the Fitmost service company. The valuation of the company exceeded $5 million. Investor of the project was the Russian family office.
According to FITMOST chief and co-founder Alexandra Gerasimova, investments will be directed to the development of current areas — B2C and B2B (corporate fitness). The company's goal is to attract approximately 1.5 thousand partners by the end of 2019, to start the workflow in cities and regions and to sell more than 15 thousand memberships.
Timur Unarokov, managing partner of BGP Litigation:
"We believe in the digitalization of the fitness industry, as we see that the market needs new models and this is an international trend that has now come to Russia. For 2.5 years of FITMOST existence, the company has managed to turn into a system with the help of which it has been possible to register for training more than a hundred thousand times. In addition, it was crucial for us to see a strong team and a sustainable business model with a clear monetization of the proposed service. All this is present in FITMOST, and it has helped us to attract investment and to close this round in a very short space of time."
Today FITMOST has over 600 partner studios in six cities. All studios can be visited for 3990 rubles per month. There is also an additional opportunity to choose a squash or tennis court at a discount. For the last year, the company has been actively engaged in the development of the corporate sector, having expanded the standard offer of telemedicine, corporate package offers, events and team building.