1Rebel secures £6.6m to expand pay-as-you-go club fitness across London

 
Alys Key
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Co-founders Giles Dean and James Balfour (Source: 1Rebel)

London-based boutique gym group 1Rebel has raised £6.6m to fund further growth of its high-intensity workout brand.

The business, which provides training sessions in a nightclub-inspired environment, already has two sites in the City of London.

Now founders James Balfour and Giles Dean plan to expand across the capital, with three sites due to open in the first three months of 2018.

The fundraising was led by Codex Capital Partners.

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Co-founder and CEO of 1Rebel James Balfour said: “This Codex Capital fundraising provides 1Rebel with the capital it needs to roll out across London. Indeed, work is already advanced in a number of locations to bring the 1Rebel experience to many new customers.”

Balfour's father Mike founded the gym chain Fitness First, and later established Jatomi Fitness with his son.

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David Currie, a partner at Codex added: “1Rebel has an amazing brand position and we had significant investor interest in this highly entrepreneurial team.”

1Rebel is part of a wave of gyms targeting millennial customers through low commitment contracts, with the gym's classes operating on a pay-as-you-go model.

Others like The Gym Group and Pure Gym have made gains in the same market through low-cost monthly memberships.

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