listed by broker
Health and Fitness
Founded in
Desired valuation:
$200k but open to offers too.
WELD is a company that I founded in 2018, and is a purpose driven, one-of-a-kind technology platform that connects customers, health professionals and premises owners, across online and offline for 1-1 and group classes. In the simplest analogy possible, WELD is like a mixture of Uber, Airbnb and Bumble as it allows users to find Professionals such as trainers, instructors and others through our platform, pair them up with available premises, either line or in-person for their session and provide them with the ability to plan, book, rate, review, communicate and pay for classes in-person or virtually. 2000+ customers, 200+ Health and Fitness Professionals, over £600k raised and invested into the business
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2000+ customers, 200+ Health and Fitness Professionals, over £600k raised and invested into the business
Selling details
Type of shares
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Reason for selling
I’d like to start from the beginning so you understand how passionate I am about this business but ultimately a bad choice of investors costs us dearly which is why we are now looking to sell the business! I met an investor on a Zoom call following a meeting he had with a family member a few days prior. My family member was interested in the space that investor occupied as well as the tremendous growth that the business was experiencing during the height of COVID. I met with the investor in early April 2021 and took them through the WELD pitch deck and explained the concept of WELD, and eluded to the fact that we were approaching a raise period and that it would be great to have them involved. I explained that we were looking to raise c. £500k under a £2m valuation, and that we were doing this through CrowdCube which is a crowdfunding platform. We believed at the time that they would be a strategic investor given their links to multiple health and medical companies. The investor provided initial verbal commitment, following a couple of discussions where this investment was verbally confirmed numerous times, and that they would be investing £200k in a joint effort between an investor and an affiliate. We then received an email with their written agreement. We then met in London a few weeks later and we were all really excited about working together. I continued with the CrowdCube raise now that we had them as a cornerstone investor as they would be providing £200k of the £500k raise, which would give WELD enough capital for a year and allow us to work on a number of the initiatives that I had planned. Fast forward a couple of weeks, and the CrowdCube raise was live and had been circulated privately within our investor network as well as the CrowdCube network. At this point in time we received word from the investor that their investment amount would be changing from £200k to £100k, this was explained to me and the advisory board. As far as I’m concerned, your word is your bond and we had verbal agreement, multiple times from them that they were in. This immediately put us on the back foot with the CrowdCube raise as its fatal to decrease your cornerstone investment amount whilst a raise is live, as it shows investor scepticism and its a warning sign to other investors to stay away as “why would the cornerstone investor pull out if all was good?”, is a sentiment shared by other investors, even though everything was fine with WELD and it was clear on what the funds were to be used for and we had experienced good growth in the lead up to the raise. This meant that we were massively let down at the very moment we needed the most support, we had explained our intentions and they had verbally committed to investing that amount with WELD. Ultimately the campaign failed as investor interest completely died out following us changing our raised cornerstone investment from £200k to £100k mid-raise. In all honesty, I would never have proceeded with the raise should I have known that these investors would only invest £100k, we would have spent more time finding a second cornerstone investor which wouldve provided the support we needed, and we wouldve been able to delay the start of the CrowdCube raise, but as they signalled their intention and we started the live CrowdCube campaign only for them to reneg on their commitment, it put us in the worst position possible. That cashflow issue still exists today as we dont have the funds to develop, and because we cant develop it means that our tech/IP is sitting unused as customers demand more features, and because we dont have customers it means we cant get any investment. We have invested our lives, blood, sweat and tears into getting this business off the ground, which it was prior to this investor coming in. Now we have a c. £700K plus platform, that doesnt have the funds required to run or build.
Preferred acquirer
Investor with interest in health and med tech
Aspirations & growth opportunities
Fitness and medical/health tech is a buzzword at the moment. There is a huge market for fitness, and I believe that WELD can tap into B2B, B2C and B2B2C services. The business has £700k behind it already, and just needs a savvy investor who sees the potential of the IP, to leverage the in-person and online aspect, as well as the attraction of the 1-1 and group classes.
Business details
Business model
Once off payments for classes but has ability to introduce subscription revenue and advertising revenue.
500 (Millennials and Gen-Z who are prioritizing their health and fitness. )
MindBody, Peloton, MyFitnessPal
Operational details
Technology stack
Full stack marketplace platform that uses a vast range of AWS services.
Marketing spend
In the last year we havent spent anything on marketing (Google, META, LinkedIn)
Performance tracking tools
Financial details
Ownership structure
66,6% B Woodhouse, remainder outside investors
Last month's revenue
Last month's profit
Financial records
Annual P&L summary reports, Online reporting software/tools
TTM revenue
TTM net profit
Based in
Team members
Acquisition type
Desired valuation
$200k but open to offers too.
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