NRG Gyms Secures $25M to Fuel UK Expansion

The gym operator plans to grow from 13 to 20 locations over the next two years, part of HSBC UK’s continued backing of NRG

NRG Gyms has secured a £18.7 million ($24.8 million) funding package from HSBC UK as the gym operator looks to accelerate its expansion across the United Kingdom.

The London-based operator plans to use the funding to open seven gyms over the next two years, growing its portfolio from 13 to 20 locations nationwide.

NRG Gyms has already identified Leicester and Nottingham for upcoming openings, with another five locations set to be announced. The company said £10 million of the HSBC funding will be available through a revolving credit facility to support the buildout of individual gyms. It didn’t disclose the details of the rest of the funding package.

NRG positions itself around offering high-quality fitness facilities at an accessible price point. Its gyms feature large-format layouts, high-spec equipment, group fitness classes and dedicated women-only training areas. Memberships run around £21.99 – £27.95 per month, although exact pricing varies based on location.

The company expects the expansion to create more than 70 jobs and increase its revenue by over 60% during the next two years.

“We have a strong pipeline of new sites ahead and are excited to explore further acquisition opportunities to accelerate our growth,” NRG Gyms founder and CEO Shafiq Ahmed said.

The funding represents the latest backing NRG has received from HSBC UK. The bank provided the company with another eight-figure funding package in 2025 to support its acquisition of Pump Gyms Limited.

Ahmed said HSBC’s backing over the past decade has helped NRG more than double in size while investing in its team and infrastructure.

The operator’s next phase of growth won’t be limited to opening gyms. NRG also plans to invest in member-facing software and technology, use a data-driven approach to identify future locations and further develop its member ecosystem, including healthcare offerings, it said.

“More people are looking for affordable, flexible ways to stay active, and NRG Gyms is meeting that demand as it grows into more towns and cities across the U.K.,” HSBC UK relationship director George Raven said.

The U.K. had 12.2 million fitness memberships in 2025, as Europe’s fitness sector continues to grow, according to a recent Deloitte and EuropeActive report.