LVL Wellbeing, a Dubai-based well-being tech startup is the newest member of our network of tech community members leveraging Amped HQ's end to end outsourced finance function services.
Formerly known as Switch & Co, LVL Wellbeing closely partnered with Amped HQ in late 2020 with a goal in establishing and running their entire system around day-to-day financial operations.
Amped HQ has since managed their finance and accounting function and this partnership has flourished. This partnership has allowed LVL Wellbeing to continue on their growth trajectory while feeling confident in their finance function.
To date, LVL Wellbeing has just closed $3.2m in its Pre-Series A investment round. With platform users in more than 80 countries, its team has grown from 10 to 22 employees in 2020 alone.
LVL Wellbeing was initially established to help users find and book wellness, leisure, and fitness activities and classes in Dubai, United Arab Emirates. Over the past two years, they have pivoted into the corporate online and physical wellbeing space. Their notable list of clients includes UAE real estate giant Emaar, Standard Chartered Bank, CBRE, Cigna, and the Dubai Future Foundation.
In an interview with Sports Industry Insider, co-founder Gary Blowers described his own struggle finding and booking sports activities when he first moved to the UAE in 2015.
“Not only was finding things to do a real challenge but the next step of committing to it and booking it was another challenge,” Blowers tells Sports Industry Insider.
“You’d try to call up places, they wouldn’t answer – it seemed that there were too many barriers to participation. There were hurdles to jump over before you could actually go and do the activity or the experience or the fitness class, whatever it might be.”
To address this need in the market, Blowers and his co-founders Graeme Perry and Dilesh Bhimjiani founded Switch & Co. They envisioned their platform as the primary go-to app for finding and booking wellness and fitness activities in Dubai.
In 2018, LVL Wellbeing received the Excellence Award for Best App from the sports and fitness magazines Men's Health Middle East and Women's Health Middle East.
When the COVID-19 pandemic struck In March 2020, Switch & Co had to find a way to continue operating online. In April, they launched an online platform for users who were stuck at home, featuring on-demand and live wellness activities such as guided meditations, home workouts, yoga sessions, Zumba classes, and so on.
As a result of this pivot, they managed to grow their user base from 2 countries to 25 in 2 months. As of this writing, they have users in more than 80 countries, with a continuously growing user base of more than 250,000 in the Asia Pacific and Middle East regions.
This is consistent with their mission of empowering 10 million people around the world to “Prioritize Well,” or put their wellbeing first, by 2025.
Switch & Co has rapidly expanded in 2020, with users located in more than 80 countries. In January 2021, they rebranded their company and shifted their focus to the user’s holistic well-being.
For such a growth-oriented startup, having a reliable global finance and accounting function was crucial to ensure the viability and sustainability of the business.
Orrin Benford, LVL Wellbeing’s chief financial officer, described the situation before they hired Amped HQ as follows: “Our systems were incoherent and not set up for growth, governance, efficiency or operational business partnering.”
However, since they have engaged Amped HQ, Benford has been able to enjoy having “trust in [their] systems and finances, [as well as the] ability to focus on building the business rather than surviving the finances.”
For Benford, [Amped HQ’s] knowledge and expertise, forward thinking (systems) approach, can-do attitude and willingness to be a part of the team culture have all made a difference.
He recommends Amped HQ as “it can give you the trust to focus on what makes the biggest difference for you -- your business. Amped HQ enables you to prosper.”
Find out why growing startups like LVL Wellbeing entrust their accounting function to Amped HQ.
Contact Amped HQ today and learn how your startup can also benefit from finance and accounting outsourcing.