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How GRNDHOUSE bulked up before its £1.5m seed round

Louis, Co-Founder & MD

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About GRNDHOUSE

Bringing boutique fitness to anyone around the world
Founded in 2020
grndhouse.com

When the pandemic hit in 2019, five best friends and fitness instructors saw an abrupt end to their in-person classes. 

They spotted a gap for an online fitness studio and app that focused on strength training and started GRNDHOUSE - a series of strength workouts for all levels, available on demand. 

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Bank loans make you jump through so many hoops, then pay back ridiculous interest. Uncapped made it easy and the money arrived quickly.

Louis, Co-Founder & MD

Challenge

Keep equity at a crucial stage of growth

 

Reluctant to give away equity to VCs at an early stage of their growth, GRNDHOUSE needed to find a way to fund a fitness studio that would allow them to ramp up production of their on-demand workouts.

Their user base was growing quickly so they needed to find capital fast.

Solution

Uncapped advance for building to a strong seed

 

GRNDHOUSE used their £50,000 advance to film more workouts, and to acquire new customers with Facebook advertising.

 

But most importantly, with a complete studio, more workouts filmed, and more users working out each week, the team went into their first seed investment round in a much stronger position to retain equity. In 2021 they raised £1.5m in a financing round led by Passion Capital.

GRNDHOUSE

in numbers

£50,000

Funding

Grow Users

Use of Funds

£1.5m

Seed Raise

110k

Subscribers

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