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On-demand wellness app, Urban secures major funding boost

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by Startacus Admin

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The on-demand wellness app Urban raises £5.9 million on investment platform Seedrs to help it further develop its services and expand to more cities

urban logoGreat news to start the week from on-demand wellness app Urban which has just raised £5.9 million on investment platform Seedrs, tripling its initial target of £2 million. This is Seedrs’ third largest raise this year, and with over 800 investors, ranks in their top 20 in terms of investor numbers.

Originally set to campaign until mid-October, the surge in investment prompted the app to close the crowdfund early, limited by the amount of funding they could accept.

Now in its sixth year of business as a treatment booking app,Urban launched the Seedrs campaign after spotting new opportunities arising from the Covid-19 pandemic, including growing enthusiasm for at-home services, less competition in the wellness market and a rise in the number of professionals going mobile with their businesses to reduce their overheads.

Urban plans to use this round of funding to build on their current offering of massage, beauty, physiotherapy, osteopathy and fitness with more services and also to expand to more cities.

urban image 2Among the 2020 Seedrs investors is London investment firm BNF Capital, who bought a £1.5 million stake in Urban early into the round. As the campaign passed its £2 million target, BNF invested a further £2.5 million.

“We’re delighted to continue our longstanding relationship with Urban both as an investor and user of their services,” say BNF. “Urban allowed us to provide vital wellness services to our team during lockdown and we continue to use them.”

“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.”

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Published on: 28th September 2020

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