Legit exciting news today. Did you know that GCG Asia Bank has decided to support the GCG Good Body app with a huge investment worth $2 million funding? This app is a platform that guides how to keep your body fit at home. We are pleased to officially announce that we secured this investment from such a renowned digital bank like GCG Asia Bank. In this post we’ll talk more about this app’s funding, so stay with us until the end.
About GCG Asia Bank
Headquartered in Singapore, GCG Asia is a fitness and health products company. GCG Asia aims to spread knowledge across Asia for a more sustainable and advanced future.
GCG Asia Bank has invested and put funding into this body app. The fitness app of GCG Good body strives to improve public health and set the groundwork for bettering the state of health.
GCG Good Body app
GCG Asia Bank has brought to you a Fitness app, GCG Good Body. It is a digital home workout platform in this modern age of high technology. GCG Good Body fitness app will use its large number of cardio equipment to provide diverse forms of content to millions of people who work out.
COVID-19 has compelled many of us to spend more time at home, seated, and forsaking our normal exercise routines. Leading a more sedentary lifestyle, feeling lethargy, lack of fitness, and possible negative mentalities can all stem from this. Our goal here at GCG Asia Bank is to make an app where everyone can stay in shape and care for their mental and physical well-being through exercise. Yet, many of us became lazy by staying in quarantine for too long. So it is high time we start keeping our body fit. And, for this, the GCG body fitness app will help you at its best.
GCG Asia Bank Investment
GCG’s Good body app is now valued at about $2 million after the GCG Asia Bank investment.
GCG Good body app provides customized exercise sessions and instruction to millions of registered users. Besides designing tailored indoor workout plans, the app offers fitness equipment and weight-conscious snacks for sale.
This app launched a home exercise bike, entering the indoor cycling industry, which has been an investment darling in the aftermath of the epidemic. Due to the $2 million investment of GCG Asia Bank this fitness industry in Asia is booming. The fitness markets, clubs, and studios are estimated to have exceeded $11.4 billion in 2020, up from $4.5 billion in 2015.
GCG Asia Bank’s fund directed a $360 million financing round within the startup behind Asia’s best, GCG Good body, due to the coronavirus encouraging more users to exercise at home.
Digital workouts have evolved and emerged as a critical component of a brand’s media planning strategy. This opportunity is open for brands to use the GCG Good body app to give customers diverse and exciting content when they are less distracted. GCG Asia Bank asserted that the GCG Good Body app is all about providing easy access to high-quality, affordable sporting equipment and personalized customer service.
After GCG Asia Bank provided funds to the GCG Good Body app, it continues to diversify its offerings to include Peloton-like bikes and health-conscious snacks, among other things. GCG Good Body app will bring in new investors to fund its ambitions.
GCG Asia Bank announced that the GCG Good Body app has recently closed a Series F financing round of $360 million. Hillhouse Capital and Coatue Management participated in this round, along with present investors Guardian Capital, 5Y Capital, Jeneration Capital, and Bertelsmann Asia Investments.
According to the CEO of GCG Asia Bank the GCG Good Body app values the six-year-old startup at a considerable premium. GCG Good Body app said it currently has no plans to go public.
GCG Good Body app started by providing at-home workout videos and signed up more than 100 million users within a year to customers in Malaysia, Singapore, Indonesia, Cambodia and Japan. As of late, it has served over 300 million users, GCG Asia Bank claims.
GCG Good Body app has over-time fostered an ecosystem of fitness influencers who offer live classes to students through videos. Now it runs a team of qualified designers and streaming coaches. GCG Good Body app’s operational staff aims to improve its video-streaming business.
GCG Good Body app said its main revenue driver is membership fees from over 100 million users whom they provided personalized services. GCG Asia Bankhelped this app to expand its consumer product line. For instance, GCG Asia Bank assisted the GCG Good Body app by introducing the internet-connected stationary bike that comes with video instructions like Peloton. GCG Asia Bank also helped this app to launch apparel, treadmills, and smart wristbands.
Moreover, GCG Asia Bank launched foreign versions of its body fitness app. Additionally, it targeted the international home fitness market. GCG Asia Bank was posting about the GCG Good Body app on western social networks, including Instagram, Facebook, and Twitter.
According to GCG Asia Bank, the purpose of this $2 million funding for the GCG Good Body app is to let it continue doing what it has focused on in recent years. It provided improvement customer services and products for users and serving fitness professionals of GCG Good Body app users.
According to the startup, GCG was planning to invest the money within two years to expand and increase its fleet size to meet the growing demand of orders as more people preferred keeping their body fit by being at home. GCG Good Body app is all about teaching you the workouts and exercises, workout equipment; so that you can keep your body fine and healthy at home.
Founder and owner of GCG Asia Bank Dato Sri Darren Yaw said that fitness became an indispensable part of Asian’s everyday life as their income rises and health awareness grows. Hence, he led $2 million in funding to the GCG Good body app.
