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Wednesday, May 25, 2022

Lithuanian health and fitness app increases its value 5 times

Walk15, a Lithuanian startup which encourages people to walk everyday with its app, has attracted nearly €270,000 since the start of this year.

Walk15 has been founded by Vlada Musvydaitė-Vilčiauskė in 2019 with the aim to help people take care of their health and fitness while protecting the environment by encouraging people to walk more and drive less. Along with counting the steps of its users, the startup’s app also has several unique features, such as being able to get discounts for fruits and vegetables in stores of the “IKI” retail chain in exchange of step points.

With its innovative step challenges, Walk15’s app has attracted over 260k and over 400 international companies have used this solution to take care of their employees’ health as well as our environment as a whole. Vlada Musvydaitė-Vilčiauskė, the founder and the CEO of Walk15, says that following their initial growth as a team, earning strong strategic partners and expansion in Denmark, they are now seeking to strengthen their product and sales teams. She also adds that they are planning to grow in the field of sustainability.

The value of the startup is now five times higher

Last spring the startup received an investment of €240,000 from 70Ventures Investment Fund, which helped it kick-start its journey and build the app that is now serving more than 260,000 users. Now the startup starts the year with a total investment worth almost €270,000 by Lithuanian and Latvian business angels such as Vladas Lašas, Arminta Saladžienė, Donatas Dailidė and Helmuts Lejnieks. The value of Walk15 is now €5 million, increasing 5 times since its beginning.

About the quick growth of Walk15, Vladas Lašas, Chairman of the Board of LitBAN, has stated that the team of Walk15 has lots of enthusiasm and energy and they were able to create a sustainable and profitable business. Also, according to him, they managed to affect many others with their idea. He then went on to add:

“Today, “#walk15” is already entering wider markets outside Lithuania. I am convinced that this is just a good start, and I am very happy to join the team as a business angel and to be able to help this start-up grow.”

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Sena Konakci
Sena Konakci
A true free spirit, Sena (she/her) spent a substantial part of her life travelling the world and was working for successful startups in many different fields along with writing for local newspapers and magazines for over two decades. With a knack for detecting promising businesses and years of experience under her belt, Sena has decided to focus her attention on writing about startups. Aside from following the newest developments in the startup scene of the Nordic countries, she loves volunteering and camping in her spare time.

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