Palestinian fitness startup Inggez has raised an investment from Ibtikar Fund, the Ramallah-based VC announced last week. The size of investment was not disclosed but we have confirmed that it is a six-figure USD deal.
Founded last year by Ali Tazami and Subhi Mara’beh, Inggez allows users to access gyms and fitness studios (classes), through its mobile app without committing to a long-term membership of a gym. The users instead have to purchase Inggez credits that they can use to access all the gyms and fitness studios on their network.
Inggez said in a statement that it’s targeting the people who do not work out on a regular basis, “Through Inggez, people can explore different fitness options, learn more about different gyms’ offerings and classes, and easily book a slot, paying only when they work out,” the startup said in a statement.
This allows the gyms and fitness studios Inggez partners with, leverage their space and increase their revenues by tapping into a new customer segment.
With the investment, the Ramallah-based startup is also announcing its expansion to Egypt where they have just soft-launched their app (starting with Cairo).
Ali Tazami, Inggez’s founder and CEO, commenting on the occasion, said, “We are excited to replicate our early success in Palestine to enter the Egyptian market and provide people there with a flexible and affordable way to stay fit. Our mission is to build the closest thing to ‘press button, pay money, get fitter’ product that relies on convenience instead of will power and help everyone access the best possible fitness options, any time, anywhere.”
Ambar Amleh, Partner at Ibtikar Fund, said, “Inggez targets the MENA fitness market, that, with just two percent of adults going to the gym, was valued at over USD 3 Billion in 2017. This data shows a huge opportunity for Inggez in helping the remaining 98% of adults go to the gym, while also addressing the growing health problem of obesity in the region.”
Inggez plans to use the investment to fuel its expansion across the region.
Latest posts by Zubair Naeem Paracha (see all)
- Dubai’s Floranow raises $3 million Series A for its B2B floral marketplace - December 15, 2019
- Saudi-based Sabbar raises $1.5 million seed to connect gig workers with temporary work opportunities - December 15, 2019
- Dubai’s VentureSouq invests in $45 million Series B of Vouch, a US-based insurance platform targeting startups - December 13, 2019