Dubai: Enhance Fitness, the Middle East’s leading Personal Training platform, announces the successful closure of a US$3 million Series A fund raise - one of the largest rounds in this sector in the Middle East.
The capital raise was led by Global Ventures, a Dubai based, international venture capital firm. Proceeds will be used to expand operationally and geographically, hire talent, and strengthen its product, content and marketing strategy.
Founded in 2018, Enhance Fitness is disrupting the Middle East’s Personal Training industry by enabling individuals to access personal training on demand and in different locations. The company’s strategy is to expand across the MENA region as it responds to burgeoning demand. The company is growing rapidly, with headcount now exceeding 175.
With the increased interest in health and wellness in MENA, there is a high demand for personal trainers in an enjoyable, affordable, and hassle-free experience. Enhance Fitness’ app features make it easy to connect with personal trainers in consumers’ local areas with just the tap of a finger, and choose from a wide variety of workout options, such as swimming, yoga, Pilates, MMA and general fitness, and training locations (gyms) at no additional cost to the consumer – anywhere, anytime.
Enhance Fitness was founded by Tarek Mounir, former C-level executive with over 15 years of experience in running multinational media and music businesses across the Middle East & Turkey.
Tarek Mounir, Chief Executive Officer and Founder of Enhance Fitness, said:
“We are delighted to complete the Series A fund raise, especially as it is one of the largest to date in this sector in the Middle East. There is a revolution taking place in fitness, health and wellness. Consumers want easy access to personal trainers, and a choice of engaging exercise routines. We make that happen. The proceeds will help us continue our expansion across the region, raise our profile, and attract more talent.”
Noor Sweid, General Partner at Global Ventures, commented:
“For the past year, our investment thesis has focused on locating regional digital health solutions that not only improve health outcomes for hundreds of people, but also shift the healthcare narrative from treatment and cure to prevention and early intervention. Enhance is one such solution. We are thrilled to partner with the team as they make healthy and active lifestyles a sustainable, convenient and accessible choice to all.
Further information
Thoburns
Hector Butler
h.butler@thoburns.com
About Enhance Fitness
Enhance Fitness is the #1 personal training platform in the UAE connecting individuals to personal trainers anywhere and anytime. Enhance Fitness is growing rapidly as is the company’s pool of personal trainers. It now has over 175 employees and is partnered with over 18 gyms.
Enhance Fitness’s easy-to-navigate website can be accessed at: www.enhancefitness.com
About Global Ventures
Global Ventures is a UAE-based venture capital firm, investing in founders and ideas scaling across emerging markets. Global Ventures backs global-minded founders that are leading growth-stage companies and using technology to transform emerging markets.
Portfolio companies include Arrow Labs, Buseet, Elmenus, Floranow, Helium Health, Holiday Me, Lean, Mamo, Much:on, Ogram, Paymob, Proximie, Pyypl, Spider Silk, Tabby, Tarabut Gateway, Team Apt, Tribal and Zension.
Noor Sweid and Basil Moftah are the General Partners of Global Ventures. More information can be found at https://www.global.vc/
© Press Release 2021
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