Founded in 2020
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.
Louis, Co-Founder & MD
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.
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.