Former Bank of England Employees Launch Sportl to Revolutionize London's Fitness Scene
Matthew Austin and Ryan Lovelock, two former Bank of England employees, have transformed their personal fitness frustrations into a groundbreaking business venture. Their newly launched app, Sportl, offers a pay-as-you-go solution for booking gym classes across London without requiring subscriptions or memberships. The platform officially debuted on Tuesday, backed by a substantial £250,000 pre-seed funding round from industry experts.
Addressing the Flexibility Gap in Urban Fitness
During their time at the Bank of England, Austin and Lovelock experienced firsthand the challenges faced by fitness-conscious city professionals. The struggle to find time for workouts between demanding work schedules became a daily reality. Austin explained their motivation: "We were constantly on the move. I committed to one studio but only used it for a couple of months, not getting proper value for money. We created Sportl because it was something we genuinely needed in our own lives."
The founders spent evenings after work engaging with over 300 gym owners and managers across London to understand industry pain points. Lovelock described their research process: "Matt and I spent the last year walking London's streets, sitting down with gym owners to understand what's missing in the industry and whether Sportl could provide the solution."
Strategic Funding and Industry Expertise
The £250,000 pre-seed investment attracted participation from notable figures including Kevin Hewitt, former EMEA chairman of FTI Consulting who now chairs Sportl's board, James Hardy, a former Deliveroo executive, and health tech investor Jamie Hearne. The company has also strengthened its team by appointing fitness influencer Lucy Gray, with over 12,000 followers, as marketing manager, and Sean Sevant, formerly of David Lloyd, as partnerships manager.
This funding will support Sportl's establishment as a London fixture while financing the rollout of new features once the initial platform stabilizes. The company currently partners with 50 London gyms, including popular boutique studios RFRM and Trainyard.
Filling a Critical Market Gap
Sportl's founders initially considered creating a platform for grassroots sports clubs in 2023 but pivoted to their current model after recognizing sustainability challenges. Their research revealed significant dissatisfaction among independent gyms with existing booking platforms like Classpass.
Tony Chin, founder of Amica Shoreditch, highlighted the problem: "Users accessing our classes through Classpass typically don't want memberships because they already have one. While we could potentially earn thousands by converting every Classpass member, we often make nothing and must turn away our own members. We appear busy but struggle financially."
Classpass responded to these concerns by explaining they negotiate floor rates with partners based on direct membership pricing and use real-time data to predict and fill empty spots, with gyms earning more for high-value time slots.
In contrast, Sportl grants gyms complete control over pricing, availability, and class offerings while taking commission. This approach addresses what Austin identifies as a unique market gap: "Every major industry has developed fantastic marketplaces, but fitness remains one of the few sectors without one. That's exactly what we're trying to create."
London's Fitness Industry Context
The UK fitness industry has experienced substantial growth, reaching a record valuation of approximately £6.5 billion in 2025 with total revenue hitting £5.7 billion, according to UK Active's latest report. Fitness apps have become increasingly popular, with over one-third of UK adults using such applications. Nutrition companies like FTSE-listed Applied Nutrition have also expanded their market presence.
Despite this growth, the sector lacks a comprehensive marketplace, which Sportl aims to provide. The platform specifically targets London's unique fitness landscape, where many workers commute only a few days weekly. Austin noted: "London boasts some of the best studios and facilities available, but people not coming to the city five days weekly struggle to access them conveniently."
Networking Beyond Traditional Settings
Lovelock highlighted an unexpected benefit discovered during focus groups: "In industries where professionals entertain clients, much of this traditionally occurred in pubs. Now, many people prefer networking through activities like pilates or brunch." This shift represents an additional market opportunity for Sportl beyond pure fitness.
The founders also noted that many chain gyms partnering with Sportl in London have branches elsewhere, facilitating what they describe as a "fairly simple" transition into other cities once the London launch stabilizes.
Sportl represents a significant innovation in London's fitness technology landscape, addressing both consumer flexibility needs and gym owner frustrations with existing booking platforms. With substantial funding and strategic industry partnerships, the platform aims to become the definitive marketplace for London's diverse fitness community while eyeing future national expansion.
