1Rebel Is Back On CrowdCube To Raise £2.5m

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London-based “King of Gyms” 1Rebel has announced that it is embarking on a second round of financing through CrowdCube.

The successful boutique fitness provider currently runs two high-end studios in London at St Mary’s Axe and Broadgate Circle, but hopes to raise £2.5m in order to fund further business growth, which is said to involve the launch of at least three new sites.

Speaking at the Welltodo Life Series earlier this week, co-founder James Balfour explained their decision to go down the crowdfunding route. As a young team, he explained, with not a lot of cash to throw at the business, he and business partner Giles Dean did not want to lose control of the brand.

“We wanted our customers to be our investors and our investors to be our customers, so using CrowdCube made sense. This way we know our investors are passionate about the brand,” he said.

The company’s first round of crowdfunding, which took place in 2014, exceeded its original target of £1.15m within 11 days and attracted 304 investors who now have a 4.03% equity stake.

This time around, in accordance with CrowdCube’s guidelines 1Rebel have published a target of £1.5m in a bid to overfund their £2.5m goal. Currently almost 50% of the brand’s target has been met.

Crowdfunding has become a popular financing strategy for startups and growing businesses, as the platform enables anyone to invest in them through a number of different equity, debt and investment fund options.

British-based company, Catalyst, who are launching a luxury activewear brand, are currently on course to raise £100,000 through CrowdCube and other wellness startups presently utilising the financing model include Skin Analytics and Viva drinks.

If you’re interested in investing in 1Rebel or any of the other businesses currently on CrowdCube, click here.

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