Released at: 2014-01-18
STOCKHOLM — January 28, 2014 — Last week, Vint launched its iPhone app that connects qualified athletes with people seeking inspiration and support for their training and fitness ambitions. Today they announce a $1.8M seed investment from Creandum, DN Capital and prominent angel investors.
Vint is a digital marketplace and community that enables everyone to find a suitable private trainer. The instructors are local athletes that offer a wide range of training sessions for all levels of experience, always provided in one-on-one or small group sessions.
"We're disrupting the way people workout by connecting experienced athletes with people who think traditional gym chain offers are too expensive, too advanced or simply inaccessible. Our users directly access passionate and experienced athletes eager to spread their knowledge and get private training much cheaper and easier than what’s been available before", says Louise Eriksson, CEO of Vint.
The company started building the service in July 2013 and is founded by Louise Eriksson, former founder of Scandinavia’s largest B2B ad network AdProfit, Magnus Hult, one of Spotify’s first engineers and co-founder of the digital gift cards app Wrapp, Leo Giertz, also a developer of Spotify’s first iOS app and co-founder of Wrapp, and Arvid Janson, co-founder of Psykologifabriken and Hoa’s Tool Shop.
"The fitness industry is still largely untouched by the Internet and Vint’s market- place approach brings a lot of value to both consumers and coaches. This is one of the stronger founding teams we’ve seen in a long time" says Fredrik Cassel, Gen- eral Partner at the leading Nordic venture capital firm Creandum, who previously invested in Swedish internet phenomena such as Spotify, iZettle and Wrapp.
Vint qualifies all instructors to ensure safety, competence, and enthusiasm, but the people who want to offer their fitness services do not have to be officially certified instructors. The marketplace allows instructors to set their own price and availabil- ity, and Vint charge them a commission on every session sold.
"We’ve seen a growing trend when it comes to utilizing people’s knowledge, time and assets with companies such as Lyft for ride sharing, and AirBnB for temporary housing and we truly believe this type of utilization will continue to win ground. Vint is taking the shared economy concept to the fitness sector, which is a huge market ready for digital disruption. We also believe that the social aspect of work- ing out with your friends is a super-important factor. Which is why Vint lets you see what your friends book and allows you to easily join them on the same sessions or recommend other workouts. Finally training has been made personal, accessible and social", says Louise Eriksson, CEO of Vint.
The private training market in Sweden is today valued at $200M. Vint makes private training accessible for a broader audience and targets the much larger overall training and fitness market, which is valued at $600M in Sweden. The company has international ambitions and aims for a US launch shortly, where the total training and fitness market is valued at $40B.
Other prominent investors in the round include Edastra, GP Bullhound and David Giampaolo, co-founder of the global gym chain 24 Hour Fitness and early investor in the work-out concept ZUMBA.
"I've spent a big part of my life trying to make training and fitness more accessible and motivating, and through Vint, Louise and her team have managed to create a service that enables exactly this by leveraging modern technology via smartphones" says David Giampaolo.
Vint is a peer-to-peer market place and community for private training and small group private training. The concept allows anyone with passion and knowledge for a specific training field to apply for being an instructor. The platform offers a wide range of workouts, from traditional gym fitness to more niche categories such as climbing, boxing and cross country skiing. For more information, visit www.joinvint.com
Creandum is the leading Nordic venture capital firm investing in innovative and fast-growing technology companies within the consumer, software and hardware industries. The firm has over €250M under management and has over the last dec- ade invested in more than 25 companies including Spotify, Wrapp, Cint, Vivino, iZettle and Videoplaza. For more information, please visit www.creandum.com