Almi Invest follows-on investment in Stepler.
Almi Invest is investing an additional 2.3 million SEK in the fast-growing company Stepler, which offers free training motivation through gamification. Physical activity is rewarded with points that can be exchanged for attractive rewards. Stepler has raised about 15 million SEK in equity and bank loans. The capital will be used to expand the team and continue the international expansion.
The idea behind Stepler is to get people moving by offering attractive rewards and creating a positive experience. By rewarding an active lifestyle, Stepler contributes to a healthier population that lives better and longer, i.e., a more sustainable society.
Based in Karlstad, Stepler was founded in 2019 and had around 4 million users in Sweden, Norway, Poland, and Germany in December 2022. In Q1 2023, the company launched in France, Italy, and Spain.
"Stepler is a brilliant product that is easy to use and provides excellent stimulation for increased physical activity and better health. The business is scalable, and the team has ambitious growth plans, which makes it an attractive investment," says Ulf Green, Fund Manager at Almi Invest.
Stepler measures activity and rewards the user with points per step. The more steps, the more points. The points can then be exchanged for attractive rewards such as discounts on experiences, products, or services. Revenue is based on advertising and partnerships with partners. The user can receive personal rewards for their efforts while increasing their well-being, completely free of charge.
"We are delighted with the new financing, which will allow us to expand and develop our product to continue working on improving people's health and well-being. With the financing in place, we can expand our business and reach even more people. Stepler offers innovative solutions to help them live a healthier and happier life. We are grateful for our investors' support and for their belief in our vision," says Daniel Malmqvist, CEO of Stepler.