SoftBank Leads USD300 Million Investment in Gympass
Posted On: 12 Jun 2019 | Source(s): Gympass, Bloomberg | Author(s): Fabiola Moura
Global telecom and technology investment group SoftBank will lead existing investors, including private equity firms General Atlantic, Atomico, and Valor Capital Group, in a new USD300 million funding round for Brazil-based fitness company Gympass. Softbank’s investment will come from the SoftBank Vision Fund, with the SoftBank Latin America Fund expected to join the deal once closing conditions have been met. Gympass provides participating companies monthly passes to its network of 47,000 gyms in 14 countries in Latin America, North America, and Europe. The company will use the new capital to support expansion into Asia as well as within its current markets.