Walk15 raises €1M

Lithuanian wellness technology platform Walk15 has raised €1M from Lithuanian Coinvest Capital, a Lithuanian syndicate of 32 business angels NGL led by Justinas Pašys, the co-founder of Lithuanian developer of solar project design software PVcase Deividas Trainavičius, LitBAN board member Daina Senapediene, co-founder of mobile phone and accessories wholesaler Mobili Baltija, Audrys Leimontas, and other business angels. NGL has invested €400K, the syndicate’s largest cheque.

Founded in Vilnius in 2019 by Vlada Musvydaite, Rugile Bineviciene, and Vytautas Visinskis, Walk15 offers a solution to help companies and organizations solve the problem of low employee engagement in physical activity. The startup application counts the steps of the employee, client, or partner of the enterprise. It then converts them into discounts and offers for the purchase of healthy products and services, according to an agreement with the company. One of the products could be a company eco sweater. 

According to the startup, its revenue has grown eightfold since it was founded. Walk15 works with more than 1,3K international companies, such as Liminor, SEB, Vinted, AstraZeneca, Penny, ERGO, North Security, and others. It also has more than 640K users. The application Walk15 is available in 25 languages. Over the last four years, more than 10K challenges have been created.

In November 2023, Walk15 raised €500K from the co-founder of the Lithuanian marketplace Vinted and Practica Capital Mantas Mikuckas, as well as from business angels from LitBAN. The valuation of the startup during the round was €15M.

Coinvest Capital is a VC fund fully capitalized with public funds from the Lithuanian State and the EU. It is 100% owned by the national development agency INVEGA, which, in turn, is owned by the Ministry of Finance, which acts as a shareholder on behalf of the Republic of Lithuania. Coinvest Capital invests in startups and companies undergoing business development and growth in cooperation with groups of business angels or private venture capital funds. The fund's CEO is Viktorija Trimbel.

Founded in 2022 by the ex-managing director of LitBAN Justinas Pasys, NGL facilitates syndicated investments, and business angel training and forms startup advisory boards. Its portfolio includes CyberUpgrade, a Lithuanian SaaS solution for enterprise security, and a Vilnius-based HR platform for managing employee motivation tools MELP.