Wellness app Urban triples crowdfund target to raises £6m
Posted on September 29, 2020 by Alistair Hardaker
At-home wellness app Urban has raised £5.9m on investment platform Seedrs, making it the third largest raise on the platform this year, with over 800 investors.
Founded in 2014 by Jack Tang and Giles Williams, Urban started life as an on-demand, at-home massage app.
It now offers over 50 in person and online wellness services, delivered by independent professionals in four London, Paris, Manchester and Birmingham. Services include at-home massage and beauty ,personal training, yoga, and mindfulness.
This round of funding follows a 2018 campaign which saw Urban raise £3.5m on Seedrs in two weeks and bringing its total investors to 1,512.
The firm will use the new funding to build on their current offering of massage, beauty, physiotherapy, osteopathy and fitness with more services, aiming to drive all markets to profitability over the next two years.
Urban also plans to expand to more cities, helped along by a new remote onboarding process that no longer requires professionals to visit an Urban office.
Among the 2020 Seedrs investors is London AirBnB and Revolut investor BNF Capital, who initially bought a £1.5m stake in Urban early into the round, before investing a further £2.5m as the total increased.
“The success of this campaign is hugely gratifying, and it says something powerful about wellness post-Covid,” says Jack Tang, Urban’s CEO.
“We’re energised and ready to start making good on the promises we’ve made to investors, which includes longstanding Urban customers and professionals alike. This crowdfund is likely to be our last for a very long time.”