Bootstrapped fitness startup FITTR crosses Rs 100 Cr revenue mark in FY20
Fitness startup(formerly SQUATS) has announced that it has crossed Rs 100 crore in gross revenue on the back of an increase in paid clients in FY 2019-2020. The startup achieved an annualised revenue run rate of close to Rs 40 crore during the latest financial year, marking year-on-year growth of nearly 30 percent.
The startup operates on a freemium model and it said that the growth has come from word-of-mouth marketing. FITTR claims that it has grown organically, servicing around 40,000 paid clients in the latest financial year.
Jitendra Chouksey, Founder and CEO, SQUATS & FITTR
INFS, the sister concern that trains and certifies FITTR coaches, also achieved strong growth with business touching Rs 2.8 crore during 2019-20.
Besides this, FITTR has announced a commitment to retain all its talent, including over 200 coaches amid the COVID-19 outbreak. Through its association with Atharvani Foundation, FITTR has helped raise more than Rs 21 lakh to support community-led initiatives, and is delivering goods and services at the front-line.
“This moment of pride, however, is also one of humility and compassion. India and its citizens are facing the threat posed by the novel coronavirus outbreak that has taken the entire world by storm. In line with our commitment to making a healthier society, we resolve to contribute to the battle against this pandemic. We have already raised a relief fund of Rs 21 lakh in association with Atharvani Foundation and will continue to explore other opportunities for minimising the impact of COVID-19 on society,” said Jitendra Chouksey, Founder of FITTR.
Headquartered in Pune, FITTR was launched in January 2016 by Jitendra Chouksey as a community on Facebook to address the challenges in the fitness industry where misinformation, distrust, unsatisfactory results, quick-fix solutions, and fad diets are ruining the industry’s reputation.
The startup has been bootstrapped so far. Earlier in its statement, the company had also said that it has been profitable since its inception.