Gym+Coffee raises €17 million to fund growth in new markets
Irish athleisure brand Gym+Coffee has raised €17 million in new funding led by Castlegate Investments.
The brand will use the funds to accelerate growth into new markets such as the UK and Germany.
Founded by Niall Horgan, Diarmuid McSweeney and Karl Swaine in 2017, Gym+Coffee now has 12 stores and has seen a 15-fold increase in annual sales since 2019. With growth to date being supported by a €4 million capital raise, notable shareholders include pop star Niall Horan, rugby player Brian O’Driscoll and the Davy EIIS fund.
Niall Horgan, chief executive of Gym+Coffee, said: “It’s been a rollercoaster for five years and we are really proud of what we’ve achieved so far. We have built a strong foundation, but we know we have loads to improve on to become a global player in this space.
“We have huge ambitions for Gym+Coffee. Our team and community have given us so much support to date and we want to make sure we match that support with a relentless drive to grow our business in a way that makes us and them proud.”
The brand has built a loyal customer base by supporting women’s sport and building an engagement programme consisting of over 300 events. This has included an ambassadorship programme with professional footballers Rachel Corsie and Jodie Taylor and cricketers Danni Wyatt and Tammy Beaumont. In addition, Gym+Coffee has recently become an official partner to Aston Villa Women’s Football Club.
