GymBeam‘s investment round is taking longer than expected

Dalibor Cicman, founder of the fitness online store GymBeam, is raising capital from investors to expand in Western Europe, but the investment round is taking longer than expected. Talks with the consortium of Genesis Capital and Sandberg have reportedly broken down due to the company’s high demanded valuation (€200m) and the fact that only a minority stake was offered. Other interested parties are reportedly Enterprise Investors and MCI Capital. GymBeam is not under pressure as it generates sufficient cash flow. This year, it expects revenues of €260m and EBITDA of €23m (€224m and €12m last year).

(seznamzpravy.cz)