Startup 1Fit raised $1,000,000 and announced its departure from London

One of 1Fit’s main investors decided to inject an additional $500,000 into the company, doubling their previous investment of the same amount. The Estonian fund Capital Mil invested $100,000 in 1Fit, while the syndicate of Kazakhstani “digital nomads” working at leading global IT giants contributed $400,000.

At the same time, the company decided to exit the UK market, which it entered in February of this year.

1Fit’s development began in Kazakhstan and then expanded to Uzbekistan and Kyrgyzstan. All these launches proceeded smoothly and according to clear algorithms. However, the launch in London turned out to be a completely different story. It was not easy for the company to apply all the established mechanisms from Asia in London. It felt as if they had launched another startup within the existing one, with higher risks. The decision to leave London is a strategic step that will help the company strengthen its position in the global market.

1Fit’s plans for 2023 include launching in three different countries: Turkey, Azerbaijan, and one country in Southeast Asia.

Source: digitalbusiness.kz