Xercise4Less is a budget gym chain founded in 2006 by ex-rugby player Jon Wright, who serves as CEO. The company operates low-cost gyms and is headquartered in Leeds, UK. It is on track to secure 11 further sites this year, bringing the total to 29 gyms across the country. The business intends to use the new financing to continue to expand operations. In May 2014 it raised £2m from Business Growth Fund (BGF); BGF had previously invested £5m in August 2013 and re-backed the business. BGF retained a minority stake following the new investment. Xercise4Less is a Leeds, UK-based low-cost gym chain. Founded in 2006 by ex-rugby player Jon Wright, the company operates nine large out-of-town gym sites, predominantly across the North of England, with floor sizes around 30,000 square feet. It serves approximately 80,000 members and employs over 250 staff plus more than 150 freelance workers. The business reports a turnover of £7.5m. Xercise4Less plans to use the investment to rollout roughly 100 new gyms nationwide and to create up to 4,000 new jobs over the next five years. The company's core offering is affordable gym memberships delivered through large-volume facilities.

Total raised

$11M

Funding rounds

2

Latest round

Equity

Latest activity

May 2014