Wa’ed, the entrepreneurship arm of Saudi Aramco, has announced a bridge investment in GetMuv, the Jeddah-based fitness app that gives Saudis flexible access to fitness clubs and health centres.
The $500,000 investment from Wa’ed’s venture capital arm, Wa’ed Ventures, is its second in GetMuv since 2019, when it initially invested $1.5 million.
GetMuv said it plans to use the new funding to expand into the kingdom’s corporate health and wellness sector.
GetMuv’s app gives Saudi men and women of all ages the ability to enjoy flexible and affordable health and wellness memberships across multiple gyms throughout the kingdom, instead of making long-term commitments to a single club.
The platform has encouraged more than 100,000 Saudis to train regularly, raising overall fitness levels in the kingdom during the Covid-19 pandemic by eliminating the restrictions of unpopular, long-term gym contract commitments.
Wassim Basrawi, Wa’ed managing director, said: “This latest funding reflects our confidence in GetMuv’s business model and clear value to the kingdom’s future. As an innovative, digital solution that is helping boost fitness levels nationwide, GetMuv is another example of ingenuity that is ‘Made in Saudi Arabia’.”
With Wa’ed’s follow-up investment, GetMuv has launched 1Pass, a corporate gym, sports and fitness club membership plan that allows employees of registered companies to use participating gyms of their choice, pay monthly, and activate or cancel their passes anytime without having to pay sign-up or cancellation fees.
1Pass also enables companies to measure the fitness levels and health activity of their employees through an interactive dashboard.
Ibrahim Yousef, GetMuv CEO and co-founder, said: “We are grateful to Wae’d for its continued funding support, as we grow and expand our business. Since our start-up was created at the end of 2017, GetMuv has developed a loyal customer base of 130,000 registered sport and fitness enthusiasts.”
He added that the coronavirus pandemic has shown how critical fitness, health and wellbeing are to building individual and workforce resilience. Recognising this, many employers in Saudi Arabia are enhancing employee benefits by encouraging a greater work-life balance.
1Pass already has over 40 corporate members including Savola Group, Saudi Ground Services, Maestro Pizza and Accenture.
Follow us on
