Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 40,000,000
Countries
Sector(s)
Spain : € 12,400,000
Germany : € 21,600,000
Services : € 40,000,000
Signature date(s)
31/07/2024 : € 6,000,000
31/07/2024 : € 12,400,000
31/07/2024 : € 21,600,000
Link to source

Summary sheet

Release date
11 October 2024
Status
Reference
Signed | 31/07/2024
20230511
Project name
Promoter - financial intermediary
URBANSPORTS (IEU FT)
URBAN SPORTS GMBH
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 40 million
EUR 90 million
Location
Sector(s)
Description
Objectives

Urban Sports Club (USC), a German Sportstech scale-up, has developed a digital platform that provides access to fitness studios, sports classes, wellness and health activities in an extensive network of partner facilities all in one membership. The project aims primarily to support the Company in stepping up their technology and product development capabilities, notably in Germany and Spain, where USC plans to set-up an important Tech hub.

The project aims primarily to support the Company in stepping up their technology and product development capabilities, notably in Germany and Spain. A sizable investment effort (1/3) is expected to take place in Valencia, Spain, qualified as cohesion region, to support the set-up a local Technology Hub.

Additionality and Impact

The operation is in line with the InvestEU objectives of research development and innovation, the eligible area as per Annex II of the InvestEU Regulation is:

1. The development, deployment and scaling-up of digital technologies and services, especially digital technologies and services, including media, online service platforms and secure digital communication, that contribute to the objectives of the Digital Europe Programme, in particular through:

(a) Artificial intelligence ;

(c) Cybersecurity ;

(f) Advanced digital skills;

(i) Other advanced digital technologies and services.


The funding of this project eases financial constraints for innovative and high-growth companies which arise from information asymmetries and of the market potential of their innovation.

The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

Environmental aspects
Procurement

The project activities do not fall under Annexes I and II of the EIA Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to mandatory Environmental Impact Assessment. The activities included in the scope are not expected to have any relevant environmental impact.

The Promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.

Milestone
Under appraisal
Approved
Signed
26 July 2024
31 July 2024
Related projects
Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - URBANSPORTS (IEU FT)
Publication Date
20 Nov 2024
Document language
Main Topic
Lending
Document Number
178584858
Document Focus
Environmental Information
Project Number
20230511
Sector(s)
Regions
Publicly available
Download now

News & Stories

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications