Last checked at 29 Dec 2010 07:00
29 December 2010
Braveheart Investment Group plc
("Braveheart" or the "Group")
Investment in payasUgym
Braveheart Investment Group (AIM: BRH) announces that Envestors Limited, its wholly owned subsidiary, has led a financing of payasUgym, the first and only independent programme allowing customers to visit a network of gyms on a pay as you go basis without membership.
Envestors, which provides a service matching fast growth companies with high net worth investors and family offices, conducted a £260,000 equity funding round for payasUgym and the funds were provided by private investors.
With payasUgym, customers 'load' money onto an online account and use these funds to purchase passes to a wide range of fitness facilities ranging from luxury spas to leisure centre gyms. Customers can purchase passes through a website or with smartphone applications. payasUgym targets people who feel that traditional membership options do not provide a flexible and affordable service that a pay as you go programme can provide.
Commenting on the investment, Oliver Woolley Managing Director of Envestors, said: "We are pleased to have achieved this result for a company with a great business model that serves a real need."
"Consumers are increasingly demanding more choice and flexibility with their gym memberships. payasUgym will address these existing market restrictions and provide affordability and convenience for casual gym users," added Jamie Ward, co-founder of payasUgym.
For further information please visit:
www.braveheartinvestmentgroup.co.uk
www.envestors.co.uk
www.payasugym.com
Or contact:
Braveheart Investment Group plc | Seymour Pierce |
Geoffrey Thomson, Chief Executive | John Cowie (Nominated Adviser) |
Tel: 01738 587555 | Jeremy Stephenson, Paul Jewell (Corporate Broking) |
gthomson@braveheart-ventures.co.uk | Tel: 020 7107 8000 |
| |
Envestors Limited | Media inquiries |
Oliver Woolley, Managing Director Tel: 020 7240 0202 | Allerton Communications (for Braveheart) Peter Curtain |
oliver@envestors.co.uk | Tel: 020 3137 2501 peter.curtain@allertoncomms.co.uk |
Notes to editors
Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building tax efficient portfolios for business angels, high net worth individuals and family offices. Braveheart was founded in 1997 by a small group of investors to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Fourteen years on, Braveheart is a public company with a demonstrable track record in technology investing, an established client base and various funds under management. The Group has offices in Perth, London, Yorkshire and Jersey with franchise operations in Dubai and Manchester.
Investments are made in unlisted companies where there is potential for significant growth through successful commercialisation of IP. Through close relationships with leading universities and innovation centres, Braveheart has access to a wide variety of emerging commercial opportunities at early stages. There are currently some 45 companies in Braveheart's diverse portfolio (includes all companies where the Group has a financial interest) and it has completed more than 90 deals.
Following the 2010 acquisition of Envestors Limited, the London based specialist corporate finance advisory business, Braveheart offers a unique and comprehensive suite of tax efficient products to high net worth investors.