Slimming site set to soar with super angel
LBA investment to underpin web and marketing campaign
Weight Wins Limited, a company specialising in slimming and wellness incentives, has closed a significant round of funding with London Business Angels (LBA).
The funding has been provided entirely by LBA, led by a particularly prominent ‘super angel’ who will now assume a position on Weight Wins’ board.
Although the two parties refused to disclose the precise value of the funding round, they confirmed that Weight Wins will use the money to launch in the public market, with substantial spending on marketing and web development.
Weight Wins provides an innovative approach to weight loss, rewarding slimmers with cash and vouchers when they hit their targets. Anthony Clarke, managing director of London Business Angels, was quick to praise the company’s preparation, saying:
“Weight Wins presented at LBA in mid July 2011 and closed the round in mid-September which demonstrates how well prepared companies can close rounds without undue delays.”
When asked about the ‘super angel’, Clarke continued: “The investor, who has a strong financial and entrepreneurial background, will no doubt add considerable value given his proven experience and past success of investing at the early stage”
Winton Rossiter, founder of Weight Wins, added: “Closing this early stage round enables the company to build out its infrastructure and raise its profile in the health and wellness market. LBA was instrumental in introducing us to an experienced and successful business angel who will be adding considerable value as a non-executive director.”