Silofit turns small office spaces into high-end, private micro-gyms called “Silos” and operates an app and marketplace that lets users book trainers, reserve Silos, and purchase workout programs. The company currently operates 20 Silos across Montreal and Toronto and reports more than 12,000 users and 3,000 trainers active on its app. Silofit is developing a Silofit Pro platform to help trainers manage profiles, clients, schedules, and sell exercise and nutrition plans. The company has a team of about 50 employees and plans to add 25 hires over the next year. Silofit will use new capital to expand into the U.S., opening 50 new Silos across five U.S. cities beginning with Miami and Chicago and establishing a U.S. headquarters in Miami. It has also signed a commercial agreement with Technogym to exclusively outfit Silos and integrate Technogym’s Digital Connected Ecosystem. Silofit converts small, unused office spaces into fully equipped private micro-gym studios that can be booked by fitness trainers for 1:1 sessions or by individuals on-demand. Each Silo includes cardio and strength equipment (bike, rower, squat rack, cable machine, dumbbells, kettlebells, TRX, etc.) and is accessible via a unique access code delivered through the Silofit app. Spaces are sanitized between users and operate daily with capacity metrics such as up to 60 bookings/hours of training per week per Silo; early locations have been fully booked since opening. The company has grown from two Silos to eight (five in Montréal) and expanded its team from four to 21 in 2020. Silofit is building out its software platform and a service offering for personal trainers to help them manage their businesses and reduce commissions taken by traditional gyms. With current demand, Silofit plans to open another 12 Toronto locations in 2021 and expand into a major U.S. market, targeting 20 locations across Montréal and Toronto and one U.S. market by the end of 2021. Silofit operates a reservations app that lets trainers or individual users book private gym studios ("silos") by the hour and receive unique access codes ahead of sessions. Led by co-founder and CEO Wilfred Valenta, the company leases small office spaces and converts them into micro-gyms available on the App Store and Google Play. Since its launch in January 2018, Silofit has developed its reservations app and established two downtown Montreal studios that are fully booked on a weekly basis. To address demand, the company plans to open two more studios in Montreal and enter Toronto in early 2020, having signed two downtown leases for Q1 2020 openings. Silofit also plans to expand to the U.S. market in 2020. The company raised $1M in seed funding to support team growth, add facilities, expand its reach, and enter new markets.

Total raised

$16M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Jul 2021