Crowdfunding success stories: 1Rebel
The boutique gym chain which scooped £1.5m through Crowdcube to take on Tech City…
Promising to deliver “the future of fitness”, 1Rebel was keen to secure investment for its boutique gym chain concept and in September 2014 it did just that – raising £1.55m in an oversubscribed funding round on Crowdcube in just 11 days.
Marking the latest in a series of crowdfunding rounds led by high-profile entrepreneurs, 1Rebel is the brainchild of enterprising duo James Balfour and Giles Dean; the team behind Fitness First and Jatima Fitness, and their pitch attracted over 300 investors in return for a share of 34.03% equity.
Building on the growing demand for new and innovative fitness solutions, 1Rebel intends to roll-out a series of ‘high intensity’ gyms which will enable users to book classes online and via an app on a pay-as-you go basis.
The crowdfunding deal, which exceeded its original £1.15m target, was going to be used to fuel developments of its site in the Tech City nucleus of Shoreditch.
Since closing the round, the fitness start-up has upped its offering and now incorporates sports-luxe “retail fashion zones” and a cold-pressed juice bar, alongside live DJ sessions intended to “galvanise and inspire” gymgoers.