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Swedish startup Vint raises $1.8M in seed round

January 28
12:57 AM 2014

Sweden-based startup Vint raised $1.8 million for its seed funding round. The financing was led by Nordics VC Creandum and participated in by DN Capital, Kima Ventures, GP Bullhound and Edastra. Angel investors Richard Båge, Bryan Jonson and Mathias Ackermand also joined the round together with David Giampaolo, one of the founders of the worldwide gym chain 24 Hour Fitness and a Zumba investor, TechCrunch reported.

Vint, a peer-to-peer marketplace and community for those seeking private fitness instruction, serves those who want to exercise but find that gym memberships don't work for them. The training can be done individually or in small groups. Users can use the iPhone app, which is available only in Stockholm, Sweden for now, which allows certified instructors that the startup has vetted to provide instruction in any sport for any skill level and price, the report said.

Proceeds for the round will be used by Vint to grow its reach, first in Sweden and later this year, in the US. In an email sent to TechCrunch, Vint Co-Founder and Chief Executive Officer Louise Eriksson said, "We're disrupting the way people work out through connecting experienced athletes with people who think what gym chains usually offer is too expensive, too advanced or simply do not have access. We're giving our users a chance to get private training cheaper and easier but also more athletes to make a business of their interest. We want to grow the total market for training and increase the quality of every work out being done while doing so."

Eriksson was the founder of AdProfit, the largest B2B ad network in Scandinavia. The other founders of Vint are Magnus Hult, Leo Giertz and Arvid Janson. Hult is one of the first engineers of Spotify and co-founder of Wrapp, a digital gift cards app while Giertz also co-founded Wrapp and developed the first iOS app of Spotify. Janson, meanwhile was a co-founder of Psykologifabriken and Hoa's Tool Shop, the report said.

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