In 2024, personal fairness agency Verod Capital invested in i-Health, a Nigerian gymnasium chain based in 2015 by the entrepreneur Foluso Ogunwale.
Verod co-founder Danladi Verheijen describes the enterprise as one in every of his favorite investments.
Regardless of working solely round 30 retailers, i-Health is already seven instances the scale of its nearest competitor in West Africa – and Verheijen sees important room for progress. “Our membership base is principally 1% of 1% of the inhabitants of Nigeria. It’s actually nothing. We’re nonetheless simply scratching the floor,” Verheijen says. “I believe [in] the UK, possibly 16 to 18% of the inhabitants goes to a gymnasium. Within the US, it’s 25 to 30%. So actually, we could possibly be a thousand instances bigger.”
Past Nigeria, i-Health is eyeing growth into Ghana and Côte d’Ivoire.
Watch/learn our full interview with Verheijen: Verod’s funding playbook for West Africa
