Late surge sees 1Rebel double £1.5m crowdfunding target
A £300,000 vote of confidence from Pure Gym co-founder James Jack has helped boutique fitness chain 1Rebel surge to £3m in its latest funding round – double the initial £1.5m target.
Jack, who was a founding director of the UK’s biggest gym chain and served as finance director from 2009 to 2012, bought a £300,000 stake in 1Rebel during the funding round on Crowdcube. This sparked a late flurry of interest from investors, leading 1Rebel management to double the funding round target in exchange for more equity.
Having initially offered a 13.04 per cent stake in the business for £1.5m in the funding round, the revised offer saw 23.08 per cent equity on offer for £3m – a target which the fitness chain reached with two days to spare.
“Funding grew substantially after James Jack invested, giving us an extra stamp of approval,” 1Rebel co-founder James Balfour told Health Club Management, adding that the chain is one of only four companies to have ever reached £3m on Crowdcube.
“Investors in this round get a smaller slice of a bigger pie due to the massive overfunding, but they also have shares in a business with firepower for growth now.”
The successful completion of the latest funding round means 1Rebel now values itself at £13m. Having launched two studios in London this year, 1Rebel plans to continue this rate of expansion over the next four years, with a view to reaching at least 10 sites in 2019.
The money raised from the latest funding round will be used for day-to-day costs of running current and future clubs, as well as to cover capital expenditure in opening new clubs – mainly equipment and leasehold improvements.
To read an interview with the team behind 1Rebel, from the February edition of Health Club Management, click here.
BIG unveils Eve Music Hall as Croatia venue nears completion
Bob Rogers hands BRC to long-serving leadership team
Wellness care hospital opens in Vilnius with innovative spa and hospitality concept
Universal and Puy du Fou projects point to rise of Oxford–Cambridge corridor
A proposed Puy du Fou development near Bicester and Universal Destinations and Experiences’ planned resort in Bedford are emerging as part of a wider transformation of the Oxford–Cambridge Growth Corridor into a major centre for UK leisure and tourism investment.
For years, the corridor has been associated primarily with science, technology, housing and university-led economic growth. However, the clustering of large-scale visitor attraction projects along the
All-inclusive eco-wellness development Auko to open near Vietnam’s Son Doong caves
Shedd Aquarium upgrades its visitor experience with new Immersion Theater
Shedd Aquarium has opened the Immersion Theater developed in partnership with SimEx-Iwerks, as part of a wider strategy to enhance the guest experience and create additional revenue opportunities.
The attraction has transformed the aquarium’s Phelps Auditorium into a multi-sensory venue combining panoramic projection, environmental effects and interactive technology.
A new pre-show area allows visitors to engage with augmented reality marine animals before entering the
Mandarin Oriental announces standalone Mansions-branded residences for Abu Dhabi
MCR is planning a luxury hotel for London's BT Tower
Joy as a radical act: Yinka Ilori launches solo exhibition celebrating the rebellious power of spreading happiness
Work gets underway on Madrid's €800 million leisure complex
Work is underway in Madrid on one of Europe’s most significant multi-functional complexes, combining sport, entertainment, culture and education.
The €800 million initiative to regenerate the former Olympic Aquatic Centre in the north-east of the city, next to the Riyadh Air Metropolitano stadium, is being led by Barsento – a joint venture between Live Nation Entertainment, Oak View Group and Atlético de Madrid. The project will
Therme Manchester reveals 90:90 strategy – 90 per cent of the UK population within a 90-minute drive of a Therme
Four Seasons’ Naples Beach Club opens 2,800sq m Sanctuary spa inspired by indigenous Calusa people
Orient Express Corinthian to host Ocean Rebirth wellness retreat in collaboration with Guerlain
Famed London nightclub, Tramp, launches Tramp Health
First look: Miraval opens on the Red Sea in Saudi Arabia
Hainan Science Museum by Ma Yansong, opens in China
A new science museum has opened to the public in Haikou after attracting more than 350,000 visitors during a four-month soft opening period.
Designed by Ma Yansong and his practice MAD Architects, the Hainan Science Museum is located on the edge of Wuyuan River National Wetland Park and has already recorded peak attendance of more than 5,800 visitors in a single day.
Commissioned by



















