Step2Fit has developed a B2B coaching tool to help fitness centers, personal trainers and physiotherapists to improve digital services offering to their end clients.
Traction and Ask
With €200k net annual revenues in the last 12 months (+132% YoY) and 800 customers such as Liikku & Ole.Fit sports centers in Finland and Hälsoprofilen & IKSU in Sweden, Step2Fit is now looking to raise €298.800 pre-seed funding. The ideal investor would have expertise in B2B sales in the Nordics, wellbeing industry and knowledge of cloud based application solutions (AWS). The investment is needed to:
- Growth scale in the current markets (Finland, Sweden and Norway) and enter Denmark.
- Reach 1,600 more customers and €100k net MRR by Q4 2025.
- Strengthen the team with 1 new hire in sales and 1 in-house CTO in product development.
Market, Business Model, Financials and Team
Founded in 2022 in Eura, Finland, Step2Fit is poised to capture a significant share of the European Wellbeing market worth of 7,3B (global market worth €29B, +25% CAGR/Year).
Step2Fit is monetizing mainly through B2B SaaS fees starting at €30/month and on average fitness center charge is €100/month. Revenue growth is projected to continue +100% YoY, reaching €125k MRR by 2026 and break even point by Q4 2024.
Step2Fit team of 9 (1 full-time founder, 5 full-time/part-time employees and 3 advisors), with over 80% ownership and 1 previous exit, combines several decades of managerial, commercial, wellbeing and cloud application expertise.
Key USPs versus competitors like Lenus and Abel are:
- Step2Fit has been developed by Jani Rajala, who has 20+ years of experience as a coach.
- Step2Fit is the most comprehensive coaching tool that stands out from the competition through various features that are not found in other services such as advanced training programming, crossfit functionality, online calendar management and e-commerce sales.
- The code is encrypted and protected. It would take competitors years to build a similar system, as well as millions of euros.
At a 1,4M € pre-money valuation, Step2Fit aims to close this round by December 31, 2023. 2 lead investors have already committed to join with €115.200 (8%). The minimum investment ticket size is 14.400€ (1%).
Step2Fit has previously raised €150k in private capital in Q4 2021 from angel investors in Finland to develop its MVP and validate the product market fit, which means that, after this investment round is secured, Step2Fit is fully ready for international commercial uptake. Step2Fit is seeking to exit in 5 years at a target valuation of €50M (40x return of investment).
Get in Touch
Jani Rajala, Founder CEO, and Sami Körkkö, Head of Growth are speaking with potential investors over the next few weeks and are keen to pitch, demo and open up their KPIs and financial plans in detail.