(Yicai Global) Oct. 13 -- Fitness platform Lefit, operated by Hangzhou Lefit Network Technology Co., has secured CNY300 million (USD45.45 million) in C-round financing led by Hillhouse Capital Group, marking the largest financing value for a Chinese company in this sector.
The online-to-offline firm, founded in 2015, is the largest fitness chain nationwide with over 200 self-built gyms in China. Its ultimate goal is to build an O2O platform for the whole fitness industry.
China's fitness users are growing rapidly, but access to gyms is currently far from adequate, founder Han Weiceng said on why the company is developing an offline market on such a large scale. The company aims to expand its offline market to develop strong fitness habits among users and lead the sector using its brand strength.
Lefit mainly focuses on smart gyms, which allow users to choose to exercise at any of its gyms at any time buy booking online. The company employs over 3,000 monthly active coaches.