KFit began as a ClassPass-style service allowing consumers to find gyms and fitness packages without long-term contracts and to help gyms reach new users. Over its first nine months it expanded into 10 cities across Southeast Asia, Australia, Taiwan and Korea, claiming about 250,000 activity reservations from some 4,500 gyms and fitness centers. The company is repositioning itself as an "active lifestyle platform," planning to expand beyond gyms into related service verticals such as spas, beauty services and massages while avoiding physical goods. KFit emphasizes discovery and local services rather than e-commerce, positioning itself as an O2O booking marketplace for fitness and wellness. Management expects two to three new city launches in the coming months and is prioritizing vertical expansion over new countries such as China or India. Financially, KFit reported a negative $320,000 burn in Q3 2015 (about 80% of which went to staffing) and said it may aim to hit profitability by the end of the year. KFit operates a fixed-subscription platform that lets members access multiple gyms, fitness studios and sports facilities across Asia Pacific. Founded by former Groupon APAC head Joel Neoh, the company runs a central tech and operations team in Kuala Lumpur with local city teams handling partners and customization. KFit is live in six cities — Kuala Lumpur, Singapore, Taiwan, Hong Kong, Melbourne and Sydney — and has signed more than 1,000 partners and over 100,000 customers. The company is aiming to expand to 20–30 cities within 18 months and ultimately to every major city in Asia. Mobile iOS and Android apps are expected in the coming weeks to complement its current web service, and the team has suggested it may evolve into other services or retail later. The business recently raised new capital intended to provide roughly 12–18 months of runway while it focuses on scaling. KFit operates an all-access fitness membership that gives users access to local gyms, studios and other facilities across the Asia Pacific region. Launched in April 2015 in Kuala Lumpur and Singapore by founder Joel Neoh (former Head of Groupon in Asia Pacific), the service had grown to more than 500 partners offering over 10,000 classes a week and more than 100,000 fitness and activity slots per month as of early May. The company is expanding geographically, opening in Hong Kong and planning launches in Melbourne, Sydney, Auckland and other cities. KFit raised a seven-figure US-dollar seed funding round to support continued expansion of operations. The team intends to use the funds to scale partnerships and enter new markets while growing class and slot availability.

Total raised

$15M

Funding rounds

3

Latest round

Series A

Latest activity

Jan 2016