Vint has secured a $1.8 million seed investment led by Creandum, together with DN Capital and prominent angel investors. Founded in Stockholm, Sweden, Vint is a peer-to-peer market place and community for personal training and small group private training.
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
led by Creandum, together with 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 work out 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 for private training that is easier and better value
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 marketplace
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, General
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 availability,
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 in 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 working
out with your friends is a really important factor. This is why Vint lets you see
what your friend’s 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, Kima Ventures
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.
For press images, please see:
Vint is a peer-to-peer market place and community for personal training and small
group private training. The concept allows anyone with passion and knowledge for
a specific training field to apply as 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 decade
invested in more than 25 companies including Spotify, Wrapp, Cint, Vivino,
iZettle and Videoplaza. For more information, please visit www.creandum.com.
About DN Capital
DN Capital is an early stage and growth capital investor in software, mobile applications,
digital media and e-commerce companies with offices in London and Palo
Alto. Portfolio companies include Shazam, Endeca, Mister Spex, windeln.de, Delectable
and OLX. For more information, please visit www.dncapital.com.
Louise Eriksson, Founder and CEO
+46 735 324 316
+46 709 411 887