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    Signature(s)

    Amount
    € 40,000,000
    Countries
    Sector(s)
    Germany : € 40,000,000
    Services : € 40,000,000
    Signature date(s)
    31/07/2024 : € 40,000,000
    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).

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