A fitness club that uses sports professionals to train its members has opened a third centre in London after securing a seven-figure funding package.
A fitness club that uses sports professionals to train its members has opened a third centre in London after securing a seven-figure funding package.
Gymbox, which has sprinter Dwain Chambers and boxer Errol Christie as trainers, has used its £2.1 million windfall to open a club in the former Lloyds of London building in Bank.
The funding was provided by HSBC and Hotbed. This is the second time the private investor network has supported Gymbox, following the £1.5 million of development capital it provided three years ago.
Bernard Dale, head of private equity at Hotbed, said the funding allows the company to expand across the capital. “Gymbox’s strong management team has turned an innovative concept into a successful business, which is going from strength to strength and has steadily gained market share from its competitors.”
Gymbox has clubs in Holborn and Covent Garden, and the new site has the capacity for up to 3,500 members. It plans to open a fourth centre in London next year. The company offers classes called chav fighting, white collar boxing, ultimate fighting and the WAG workout.
