New fitness startup 1REBEL - a chain of high intensity studios using the ‘pay as you train’ business model - yesterday (1 July) offered the public the chance to invest in the venture through UK crowdfunding site Crowd Cube.

The brainchild of James Balfour - son of Fitness First co-founder Mike - and leisure start-up specialist Giles Dean, 1REBEL will comprise a range of boutique fitness studios solely focused on high intensity training.

Mike Balfour is also an investor in the new venture, which will align itself with the fashion industry by working alongside sports luxe designer Charli Cohen. Industry veteran Kevin Yates - another former Fitness First employee - joined in February as UK operations director.

The first set of studios are due to launch in October and funding has been put into the hands of the public through Crowd Cube, with 1REBEL attracting over £400,000 on the first day. The company aims to raise a total of £1,150,000 through the initiative, in return for 27.56 per cent of equity.

A total of 27 investors had pledged money by 11pm last night, with one backer offering £300,000. The £430,070 raised at the time of writing meant the company was 37 per cent of the way towards its target.