Ibtikar Fund has announced its investment in Palestine-based Inggez, a mobile app offering on-demand access to gyms and fitness classes, allowing people to get active without committing to one single membership.
Inggez’s target market is the vast majority of people who do not work out on a regular basis. Through Inggez, people can explore different fitness options, learn more about different gyms’ offerings and classes, and easily book a slot, paying only when they work out..
“Inggez targets the Middle East and North Africa fitness market, that, with just 2 per cent of adults going to the gym, was valued at over $3 billion in 2017,” said Ambar Amleh, partner at Ibtikar Fund. “This data shows a huge opportunity for Inggez in helping the remaining 98 per cent of adults go to the gym, while also addressing the growing health problem of obesity in the region.”
Inggez plans to use the funding to expand its presence in the region.
“We are excited to duplicate our early success in Palestine to enter the Egyptian market and help provide people there with a flexible and affordable way to stay fit,” said Ali Tazami, founder and chief executive officer at Inggez.