Bath-based fitness subscription platform MoveGB has secured a multimillion-pound Barclays’ innovation funding facility to support its nationwide rollout.
MoveGB, founded in 2013 by serial entrepreneur Alister Rollins, is an innovative platform aimed at helping people stay healthy and active for life. The platform is the largest network of fitness providers in the UK and offers access to a wide variety of activities from independent trainers and major gyms to yoga studios, all under one flexible monthly subscription. The company has nearly 100,000 users today and is expanding its operations across the UK.
Al Rollins, founder and CEO of MoveGB, said; “We are delighted to partner with Barclays on our growth journey. They understood and were aligned to our growth strategy, putting together an attractive facility.”
Commenting on the funding, Matt Brook, High Growth & Entrepreneurs Director for the South West at Barclays said; “It is a pleasure to work with innovative businesses like MoveGB and to support them with funding but also with our wider High Growth & Entrepreneurs proposition. MoveGB has established a strong track record in its marketplace and attracted significant funding from leading investors. It is particularly pleasing to see another South West technology business scaling.”
Barclays’ ‘Innovation Finance’ product, is targeted toward high-growth and innovative businesses. The fund is providing innovative companies such as MoveGB with additional financing at more favourable rates as part of the bank’s commitment to supporting high growth businesses in the UK. The loan will be backed by a guarantee of the EIF, enabled by the InnovFin initiative with financial backing from the Commission’s Horizon 2020 programme.
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