The European Investment Bank (EIB) grants a loan of up to 25 million euros to eGym. The Munich Successful startup wants to use the funds to finance research and development, expand its production capacities and expand on the market.
The European Fund for Strategic Investments (EFSI) makes the loan possible. Philipp Roesch-Schlanderer, Managing Director of eGym, says:
"We are delighted about the EIB financing. From the very beginning, eGym's vision was to make the gym work for everyone and for users to train as best as possible to achieve their personal training goals quickly and reliably. Today, we see that prevention and improving one's fitness are becoming increasingly important for many people. eGym offers intelligent, software-based training solutions to optimally motivate studio members."
EIB supports European growth companies
EIB Vice-President Ambroise Fayolle, who is responsible for financing in Germany, says:
"Founded only seven years ago, eGym is a very rapidly growing company. One of the EU bank's primary goals is to support young and innovative growth companies because they create the jobs of tomorrow."
eGym's product is cutting-edge technology that offers a complete fitness ecosystem to give European citizens access to the best equipment available to improve their health and well-being, said Fayolle.
