Gympass bags $300M from SoftBank

Corporate fitness startup Gympass has reportedly raised $300 million in a round led by SoftBank, with Bloomberg reporting a valuation of more than $1 billion. Existing investors General Atlantic, Atomico and Valor Capital also participated in the funding.

Founded in Brazil in 2012 and now based in New York, Gympass partners with corporate clients to provide passes to fitness classes for employees. The company now claims a network of more than 47,000 gyms across 14 countries in Latin America, North America and Europe. SoftBank's investment will involve capital from both its Vision Fund and its Latin America Fund, a new $5 billion vehicle the Japanese investor launched in March focused on pursuing tech deals in the region.

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