Myanmar fitness app Flexible Pass raises 6-figure pre-series A funding

Myanmar health and fitness app Flexible Pass has secured a six-digit amount in pre-series A funding from existing investors Yangon Capital Partners, Seed Myanmar, and Nest Tech.

Flexible Pass’ mobile app, which is available for both Android and iOS devices, allows users to create an account, buy Flexible Pass points, and make bookings at 150 locations in Yangon, with 20 different fitness categories to choose from.

The company, which currently operates in Yangon, Mandalay, and Pyin Oo Lwin, will use the new funding to expand into the wellness industry by offering spa and beauty services, according to a statement.

It will also develop a subscription-based business-to-business product in the beauty and wellness industry to offer businesses a streamlined booking process and reliable payment options for their customers. It plans to launch the product by the end of the year.

“Flexible Pass’ growth coincides with the explosive growth of the nascent ‘fitness tech’ space in Asia, and given the population demographics in Myanmar, we think there is a tremendous opportunity for delivering a healthy living app in the Myanmar market […],” said Field Pickering, managing partner at Seed Myanmar.

According to a statement, Flexible Pass, founded in 2017, has 2,500 bookings per month and over 1,000 monthly active users, with 30% month-on-month growth as of July 2019. It said it has more than doubled the number of its partners from October 2018, when it raised its first round of funding.

Source: Tech in Asia

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