On-demand fitness app RIG has received new financial backing that will help strengthen its position in the UK market as well as foster international growth.

Developed by entrepreneur Sam Harney, the app-based platform, which has been backed by New Hill Management, enables users to access boutique fitness classes on-demand, only paying for the classes they attend with no contractual obligation to RIG or the clubs they visit.

It features a pay-as-you-go Dynamic Pricing model that offers competitive rates to both the users and its studio partners, with the company taking just 10 per cent of the booking fee.

It can also be integrated into other platforms, and is currently fully integrated with cloud-based software system MINDBODY, with plans to integrate into other platforms in the coming year.

Sam Harney, founder of RIG, said: "There are plenty of fitness booking platforms in the marketplace that offer the variety that we do, but ultimately they come at a cost. At RIG we offer a fuss-free model that harnesses the power of supply and demand in order to offer our customers the very best prices, for the very best boutique fitness studios across London."

"While the technology behind it is complex, the principle is simple. Classes in high demand are sold at a premium, whilst classes with open spots will benefit from price drops of up to 50 per cent to drive up attendance. It's a win-win situation for both our studios and our customers too," Harney added.