FitQ Studio OÜ acquired Gymwolf OÜ, a company active in the same field of activity

Estonian start-up FitQ Studio OÜ, which builds software for personal trainers, has acquired Gymwolf OÜ, a company that has been active in the same field for a decade.

Gymwolf is an environment with more than 25 000 users that allows exercisers to keep their own gym diaries and personal trainers to create and sell workout plans to people who want to improve their fitness, as well as track their progress and get user feedback.

The transaction took the form of an exchange of shares, where FitQ Studio OÜ acquired Gymwolf OÜ and the existing shareholders of Gymwolf OÜ joined the FitQ shareholder circle.

Shareholders comment

"At Gymwolf, we have created an exceptionally powerful back-end solution for managing training diaries and schedules, which has been honed over a decade of user feedback. Our development plan was to create such a capability for trainers using our platform, and with this agreement we shortened the time to market for this product by at least a year," said Marti Soosaar, CEO of FitQ Studio.

Gymwolf's founder, Indrek Ulst, CTO of software development company Mooncascade and amateur athlete, commented on the reasons why Gymwolf did not become a unicorn on its own: "There is power in collaboration. We started Gymwolf in 2011 as a simple gym workout diary. In 2018-2019, the plan was to take the project more seriously and build a tool that would allow trainers to create workout plans and manage their trainees. With a small team, we invested a significant amount of hours in the development of the product with the aim of launching it in 2020. Unfortunately, the gyms closed for a long period of time just then, our team's focus shifted to other projects and the motivation to work on this product dropped. However, the passion for sport is still in our hearts and I believe that moving forward with FitQ Studio, we will be able to find a new outlet for the solutions we have created for Gymwolf so far and take it to the next level."

A vision for the future

Marti Soosaar promised that by the autumn of 2023, there are plans to integrate the products and added that Gymwolf will create another very trendy opportunity as a platform. Namely, as a single trainer, AI will be able to deliver your plans in a well-structured and analysable way. "If and when AI will take over the dirty work of creating the plans and the personal trainer will only have the role of cheerleader, we will see in the next 3-5 years," Soosaar mused.

FitQ Studio OÜ is a software platform for personal trainers and at-home trainers that grew out of the Stebby OÜ environment in 2020.