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7NXT acquires Buddyfit to become the leading online physical and mental fitness platform in Europe

Oakley Capital
03.09.24
3 min read

The combined business will have more than 800,000 subscribers

Oakley Capital, a leading pan-European private equity investor, is pleased to announce that portfolio company 7NXT, which owns and operates the DACH region’s leading online fitness and mindfulness platforms Gymondo and 7Mind, is acquiring Buddyfit, the market-leading online fitness platform in Italy and Spain.

Headquartered in Genoa, Buddyfit offers online fitness classes, mindfulness sessions, live workouts and nutrition plans to a paying subscriber base of c.100k. The business has grown quickly since its inception in 2019, generating consistently higher revenues year-on-year.

Gymondo Image

Headquartered in Genoa, Buddyfit offers online fitness classes, mindfulness sessions, live workouts and nutrition plans to a paying subscriber base of c.100k. The business has grown quickly since its inception in 2019, generating consistently higher revenues year-on-year.

7NXT Gymondo

Oakley invested in Gymondo in 2020, partnering with founder and CEO Markan Karajica to accelerate the business’ growth in the online fitness and wellbeing market by organically growing the subscriber base and transformational M&A.

7NXT Statistic

In 2023, 7NXT acquired 7Mind, a leading German mental wellbeing platform, in a combination that established Gymondo as an all-encompassing consumer digital platform for mental and physical fitness and well-being, as well as broadening the business’s customer base to include both B2C and B2B customers.

Adding Buddyfit positions Gymondo as a true European consolidator platform in the fitness and wellbeing market which is estimated to be worth over €3 billion across the core addressable markets of Germany, Italy and Spain by 2027. The acquisition bolsters the subscriber base of the 7NXT companies to more than 800,000 and extends the company’s market reach deeper into Europe, with the potential to unlock further opportunities in the European market including France and the Nordics.

Quote Markan Karajica

Buddyfit has a leading presence in Italy and Spain with an impressive track record of strong growth and a loyal community. It will help us expand our business into key European markets for Gymondo, complementing our existing business in the DACH region. We look forward to partnering with Buddyfit’s management team, with continuing support from the team at Oakley Capital.

Markan Karajica

Founder & CEO — 7NXT

Quote Giovanni Ciferri

With this acquisition, Buddyfit completes the first stage of its strategic growth plan after four years of strong expansion that have allowed us to achieve leadership in Italy and Spain. By combining our expertise with that of Gymondo, we place ourselves in a unique position to build a single major leading player in Europe.

Giovanni Ciferri

Founder & CEO — Buddyfit

Quote Peter Dubens

This is another transformational deal for Gymondo, expanding its reach further across Europe. It follows a year of consistently strong subscriber growth achieved with prudent customer acquisition costs. Organic growth alongside M&A will help Gymondo deliver on its strategic goal of becoming the Continent’s leading fitness and wellbeing platform, helping countless users lead healthier lives.

Peter Dubens

Founder and Managing Partner — Oakley Capital

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