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Gympass receives US$190M+ investment to become Brazil’s newest unicorn

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LatAm List – Japanese investor Softbank will lead a US$190M investment in Brazilian startup, Gympass, with plans to invest in two more rounds totalling up to US$500M. These rounds put Gympass’ valuation at US$1.1B, placing it among Brazil’s startup unicorns.

Gympass is a gym subscription service, much like ClassPass, that is active in 10 countries and with over 25,000 associated gyms. However, the Brazilian version focuses on corporate contracts, rather than individual payment plans.

This round is Gympass’ sixth round, many led by large international investors. Softbank has previously invested significant rounds into Brazilian startups Loggi and 99, and recently announced plans for a Latin America-focused fund.

Read more in Valor Economico.

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Sophia is the co-founder of LatamList. Currently, she is CEO at Friends of Wallacea & Venture Partner at Magma Partners. Sophia is passionate about harnessing the power of technology to empower communities to conserve and sustainably manage their land. She has followed this passion down several avenues, from entrepreneurship to investment and large-scale conservation management, including projects that span Africa, Latin America, and the South Pacific.

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  1. Pingback: Softbank Launches $5B Latin America Venture Capital Fund – LatAm List
  2. Pingback: Softbank makes first investment in Colombia in Digital Hotel Chain Ayenda – LatAm List
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