Wellness app triples investment target with £5.9m Seedrs fundraise
An on-demand wellness startup has secured almost three times its initial fundraising goal of £2m in its latest crowdfunding campaign.
Urban, which allows users to book home treatments via its app, has secured £5.9m investment through equity platform Seedrs.
Founded in London in 2014 by Jack Tang and Giles Williams, Urban is an on-demand app offering a range of treatments including massage, beauty, personal training, yoga and mindfulness.
Since its launch six years ago, Urban has grown to offer over 50 in-person and online wellness services across London, Paris, Manchester and Birmingham.
Urban plans to use the funding to achieve profitability by the end of 2021, build on its current offerings and to expand to more cities with new remote onboarding process.
Jack Tang, Urban’s CEO, commented: “The success of this campaign is hugely gratifying, and it says something powerful about wellness post-Covid.
“We’re energised and ready to start making good on the promises we’ve made to investors, which includes longstanding Urban customers and professionals alike. This crowdfund is likely to be our last for a very long time.”
Among the investors was venture capital firm BNF Capital, which bought a £1.5m stake early into the round and invested a further £2.5m after the campaign passed its target.
BNF added: “We’re delighted to continue our longstanding relationship with Urban both as an investor and user of their services.
“Urban allowed us to provide vital wellness services to our team during lockdown and we continue to use them.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.