EGYM has completed a Series F financing round which will see it raise up to €207m (US$225m) in growth capital.
The new investment was led by Affinity Partners, a global investment firm based in Miami, US and also included contributions from existing investors, Mayfair Equity Partners and Bayern Kapital.
Affinity Partners was formed in summer 2021 by Jared Kushner, the son-in-law of former US president, Donald Trump. Investors in Affinity include the Saudi public investment fund (PIF).
Around €107m worth of the funding will flow into EGYM immediately, with an additional €100m available for future investments.
The fitness tech firm will use the investment to develop its digital solutions and drive the expansion of the EGYM Wellpass corporate health network.
EGYM Wellpass' network of sports and wellness facilities currently includes more than 11,500 sites across Germany, Austria and France.
Nearly 2.5 million employees from more than 7,500 participating companies have signed up to the service.
In 2022, EGYM acquired Gymlib, the market leader in the French corporate health market, as part of its plans to strengthen its grip on the corporate health sector internationally.
EGYM co-founder and CEO, Philipp Roesch-Schlanderer, said: "Our new partner shares our vision to digitalise the entire fitness industry.
"We want to be the platform that makes fitness clubs leading players in the transformation of the world's largest market of all - the healthcare market – from repair to prevention.
"This includes modern, safe and effective training programmes and data usage to improve training quality and documentation of training success.
"Corporate health plays a prominent role in achieving this goal. With the new growth capital, we will massively expand EGYM Wellpass to help employers strengthen the wellbeing of their workforces through exercise at thousands of high-quality fitness clubs.
"The Wellpass programme is also an important incentive for companies in the increasing struggle to attract and retain employees."
Asad Naqvi, partner at Affinity Partners, added: "EGYM serves the large and rapidly growing global fitness and healthcare markets with a differentiated technology-centric model.
"We don't often come across companies with revenues in the triple-digit millions that are close to doubling in size year-over-year.
"In EGYM, we are backing an incredible team with a long track record of execution and success, and we look forward to supporting the company on its path to an IPO."
