Genoa-based personal trainer anywhere, anytime service Buddyfit has raised €10 million in a Series A funding round. The new capital is slated for use in furthering the startups’ international expansion plans as well as double the team size to a robust 100 individuals. Since May 2019, Buddyfit has raised just shy of €18 million.
“Our goal is to help millions of people stay healthy while having fun. It is a mission that fills us with pride and motivates us every day, also seen as in Western countries as individual wealth increases - absurdly - the rate of obesity and physical inactivity has grown over time," commented Buddyfit co-founder and CEO Giovanni Ciferri. "We started with fitness, but we have always had in mind to expand to other segments with the aim of becoming the reference service in the wellness field".
Buddyfit’s €10 million Series A round was led by the newly formed Azimut Digitech Fund (GELLIFY as advisor) and saw participation from Cairo Communication, RCS MediaGroup, and a number of undisclosed private individuals.
On the investment, RCS MediaGroup’s Urbano Cairo commented, “At RCS we have always been protagonists in the sports world, and we want to be more and more so. Today the digital ecosystem allows us to seize many opportunities and to invest in new digital realities, young and full of ideas. In this sense, we are happy to announce the partnership with Buddyfit, an Italian company that has been able to grasp an extremely current trend, linked to fitness and physical and mental well-being in general, with an ambition that perfectly expresses the values we believe in."