Angel Ventures Peru led a US$350k seed investment in FitCo, a Peruvian gym management startup that also operates in Mexico, Chile and Colombia.
(Press Release) Fitco uses technology to help fitness centers manage and grow their user base. Founded in Lima, Peru in 2016, Fitco recently raised a US$350K seed round from Angel Ventures Peru, 500 Startups, and Outbound Ventures.
This news comes after Fitco pitched at Start-Up Chile’s G17 Demo Day in September 2018 as one of the top 16 startups in the generation. Fitco currently serves gyms, yoga studios, and other sports centers in Mexico, Chile, Colombia, and Peru.
“With our software, clients have better control of client management, class attendance, inventory, operating reports and more. Our online sales channel allows our clients to attract more customers,” said Fitco co-founder and CEO, Andrea Baba.
Fitco will use the funding to consolidate and strengthen its teams in Mexico, Chile, and Colombia.
“Raising capital for the first time wasn’t easy but has been an enriching experience. We were looking for partners that would take us out of our comfort zone and help us in our regional expansion. Investors who challenge our vision and business model and allow us to think out of the box. The more the potential investors challenged us, the more we wanted them as a partner. We were really grateful to have Angel Ventures as a partner and lead investor,” said COO and cofounder
Read press release here.