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Vietnamese Lifestyle Startup WeFit Secures $1m in Funding

The startup was launched in late 2016.

According to a report by e27, the startup recently secured US$1 million in pre-series A funding from CyberAgent Capital, KBInvest and other regional venture capitalists.

“Receiving investment from funds like CyberAgent Capital will help WeFit shorten the time needed to explore markets and bring services to many people faster,” said WeFit CEO Khoi Nguyen, adding that the company is expecting to reach one million app users in 2019.

WeFit is a mobile platform through which users can book fitness and beauty sessions. The application aims to be a one-stop shop for picking fitness and beauty services tailored to one's personal schedule and location. The app currently has 1,000 partners in Hanoi and Ho Chi Minh City, offering different types of exercises and activities including aerobics, gym, yoga, dancing, kickboxing, martial arts, beauty, etc. It also offers subscription packages for partner services. 

“We believe WeFit will formulate a completely different behavior of beauty and health care in the near future,” said Nguyen Manh Dung, Head of CyberAgent Capital in Vietnam and Thailand on its investment.

The startup is currently handling 150,000 bookings each month, helping its partners increase their monthly profits by an average of 10%.

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