Trihill Capital Invests in Fit Hub, Reveals Its Commitment to Support Indonesian Startups

One of the platforms wellness which initially only focused on activities offline presenting a variety of classes, a choice of trainers, to the latest gym equipment, Fit Hubs, has secured $3 million in seed funding from a number of investors.

This initial funding round was led by Global Founders Capital APAC, with participation from Goodwater Capital and angel investors. Among them are Abhinay Peddisetty, Steven Wongsoredjo, Robin Tan, Benedicto Haryono, and Philip Tjipto.

Meanwhile venture capital which since the first time provided investment support to Fit Hub, namely: Trihill Capital, is also involved in this round of funding.

To DailySocial.id, Alwyn Rusli from Trihill Capital shares their reasons for investing with the platform wellness which is claimed to have been profitable.

Pandemic pushes sports activities

If initially most Indonesians were reluctant to do sports activities to a healthy lifestyle, during the pandemic everything began to change and many of them began to look for quality activities that had an impact on improving health. The pandemic has driven growth platform wellness and sports in the country.

Services such as Fit Hub then not only function as an application for booking sports activities, but have also become an option for the general public to take special fitness classes on a regular basis. online.

Offering a Premium Gym at an affordable price, previously Fit Hub already had an application that was limited to ordering activities only. During the pandemic, these options began to be expanded by presenting a choice of sports classes online by building a digital-based gym. Currently, Fit Hub has more than 8 thousand users, 210 trainers and 16 offline branches in 5 cities.

"We see space which we can target to invest. Fit Hub is ideal for us considering the background of the founder who has a very good understanding and conducts research to go directly to see the market potential," said Alwyn.

He added that Trihill Capital decided to invest early on, after seeing the positive business growth from Fit Hub. Starting from the thesis, there have been many people who want to have a healthy lifestyle, they see what Fit Hub offers to be relevant and has the potential to continue to grow.

Trihill Capital's Focus

Based in Singapore, Trihill Capital is a venture capitalist with a vision to build long-term partnerships with startup founders. In particular Trihill Capital has 2 investment arms, namely investments that focus on public equity globally and another invests in companies in Southeast Asia.

For venture arms itself is mentioned is in several stages. Starting from the initial stage to the growth stages. Although they are agnostic (not focused on a particular business vertical), most of them are looking to service fintech, logistics, commerce, and empowering MSMEs.

To support the growth of the startup business, Trihill strives to oversee their business as long as possible. In this case, companies that want to have good growth in the long term will continue to be assisted by them. In particular they usually help companies in various purposes, but especially on the commercial side by utilizing a network of companies and financial institutions (banks and non-banks).

This year Trihill Capital still has plans to provide investment to startups in Southeast Asia, especially Indonesia, although it is reluctant to mention how much the quota for adding to the portfolio will be. In addition to Fit Hub, Trihill Capital has also invested in Wagely, Eden Farm, fast, Hey cafe, Teacher's Room, Woy Macaroni and BookStore.

"We are an evergreen fund, we are quite flexible in terms of capital deployment and can partner with our portfolio founders for as long as possible," said Alwyn.