February 20, 2021
Mergers and Acquisitions
GCA Advises Fitternity on its sale to Cure.fit
GCA is pleased to announce we acted as exclusive financial advisor to Fitternity, India’s leading integrated fitness and wellness platform, on its sale to Cure.fit.
Fitternity is a one-stop discovery and booking platform for fitness and wellness addressing multiple industry pain points via a technology platform. Fitternity’s offerings encompass the entire fitness ecosystem starting from an online marketplace for traditional Gym Memberships to flexible Pay Per Session and subscription based all-in-one Fitness memberships (‘OnePass’). Fitternity also powers fitness & wellness benefits for 100+ large corporations in India. Having catered to over 11 million users on the platform, 500K paid consumers, the company empowers a network of over 5,000+ branded gyms, boutique fitness classes and luxury hotel swimming pools in India across 17 fitness forms and 15 cities.
Founded in 2016, Cure.fit is India’s largest FitTech start-up and has raised $400mm+ till date from marquee investors like Temasek, Accel and Chiratae Ventures (formerly IDG Ventures India). Cure.fit operates multiple verticals in the fitness, nutrition and mental wellbeing space with gyms operated under Cult.fit brand, Mind.fit for yoga and mental fitness as well as Eat.fit, its food and nutrition business. The company has also launched Care.fit for preventive care as well as telemedicine services.
Neha Motwani, co-founder and CEO of Fitternity, said: “We are delighted to join Cure.fit. At Fitternity, we have always focused on creating innovative solutions to make fitness easy and accessible for Indians - this vision will be further extended with our partnership. While Fitternity will continue to run as it always has, with Cure.fit, we will be able to create a formidable force to grow and drive scale for our partners.”
Jayam Vora, Co-founder and COO, Fitternity added: “For Fitternity, this transaction enables a significant evolution of our user proposition, while driving growth for our partner network beyond just recovery to achieving the true potential of the fitness retail business in India. The integrated mix of technology, progressive business models, and the neighbourhood gyms and fitness classes will be the secret sauce to empower a Fit India.”