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1Rebel Gym startup raises £1.5m via Crowdcube

1Rebel raises over £1.5million for a 35% stake in the company

Boutique gym start up 1Rebel raises £1.5 million via Crowdcube.

1Rebel found 304 investors from Crowdcube who pledged £1.5 million for the new launch of the gym at Shoreditch. The pitch was very popular and was oversubscribed with a whopping £1,559,370 worth of investment.

The pitch reached its target of £1.15 million within 11 days of it first appearing on the crowd funding site Crowdcube. The opportunity eventually attracted 304 investors with a stake of 34.03% in the company.

The company was founded by James Balfour and Giles Dean, both have worked on the well-known Fitness First brand.

1Rebel is a gym that is contract free which allows members pay for and book classes online, providing a pay as you go service.

The first gym is expected to open in Shoreditch later this year.

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