Imbiba invests in boutique gym firm 1Rebel after closing £90m fund

The funding will be used to finance a number of new gym locations for the brand, which currently runs 13 sites.

Boutique gym chain 1Rebel has secured investment from industry investor Imbiba (Imbiba/PA)

Leisure and hospitality investor Imbiba has given a cash injection to fund the expansion of boutique gym chain 1Rebel after closing a new £90 million fund.

The funding will be used to finance a number of new gym locations for the brand, which currently runs 13 sites.

Darrel Connell, managing partner at Imbiba, told the PA news agency that the investment group believes 1Rebel is the “best in class” across the UK and has strong potential for further growth.

The investment comes as Imbiba – which has backed brands including Pizza Pilgrims, Farmer J and F1 Arcade – confirms the closure of its oversubscribed £90 million second investment fund.

The fund will go towards high-growth businesses in the leisure, lifestyle, wellness, and entertainment sectors.

Mr Connell said 1Rebel met its requirement of being a “proven” business “looking to scale and open new venues”.

He added: “We see the macro-economic headwinds that are widely written about, but actually there are lots of really good businesses out there that are doing really well, working really hard, and 1 Rebel is a classic example.

“It is absolutely thriving now. People prioritise certain things as their discretionary spend comes down and people in that environment prioritise paying for a 1Rebel class.”

The company currently has 10 sites in London, as well as three locations in Australia and the Middle East.

James Balfour, co-founder and chief executive of 1Rebel, told PA it has multiple new venues lined up in its expansion pipeline.

“Securing this investment from Imbiba marks a pivotal moment for our business,” he said.

“We are thrilled to have their support and confidence as we continue our mission to redefine fitness and wellness.

“With this new infusion of capital, we’re poised to accelerate our growth, expand our reach, and further enhance the 1Rebel experience for our members.”