A unique way to raise
London’s BLOK has secured £889,000 through Crowdcube, with a view to adding to its current network of two studios. Since 2018, the brand has leaned on crowdfunding successfully, pulling in over £3.32 million or approximately $4.5m USD from more than 2,300 investors in total.
BLOK's Performance Metrics
BLOK revealed its own performance metrics alongside key industry projections:
- Membership jumped 175 percent YoY Feb ‘24 to Feb ‘25
- Reformer Pilates classes generated £931k in 2024
- Active members total 2,700, with 18,500 active users via ClassPass and drop-ins
- 114k subscribers on their mailing list
- Global boutique fitness market is expected to reach $80 billion by 2029
Perks For Investors
BLOK's crowdfunding raise had an interesting twist: they rewarded each investor with extra benefits, such as class credits, memberships and smoothies. From five classes and shakes for contributions over £250 to a lifetime unlimited VIP membership for those who invested more than £50,000. If you train at BLOK regularly, this helps sweeten the deal.
Manchester Studio Closure
Shortly after the raise, BLOK closed its Manchester studio. In their public announcement, BLOK stated that the location was profitable and built for the long term but pointed to a landlord dispute and loss of trust as their reasons for pulling the plug.
Today the brand runs two London sites - BLOK Clapton and BLOK Shoreditch - plus its online platform, BLOK Digital. With this raise, they plan to expand with additional locations and services.
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