Albion, MMC help PayasUgym raise £1.6m


health-fitness-gym-exercise-bikeUK fitness network PayasUgym has raised £1.6m in a funding round led by Albion Ventures and MMC Ventures.

The round, which also saw participation from the company’s existing investors, brought its fundraising total to £3.5m.

PayasUgym will use the funds to launch new products and services – including enabling customers to compare and directly book fitness classes all over the UK.

With more than 1,700 health clubs now available on its website, PayasUgym is currently the UK’s largest online gym network.

Albion Ventures deputy managing partner Will Fraser-Allen said, “Payasugym is an exciting and innovative company with a tremendous future ahead of it. The company already has a significant web presence and with a third of health and fitness clubs in the UK already signed up, is well placed to capitalise on its first mover advantage.

“We are looking forward to working with the Payasugym team to build a significant business in a sector we know well.

Earlier this month Albion invested £2.2m inEgress Software Technologies, a provider of on-demand cloud-based email and file encryption services.

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