What Sweatcoin does

Sweatcoin (SweatCo Ltd) is a London-headquartered consumer health-tech company founded in 2015 that operates a free mobile step-tracking app converting verified physical movement into digital currency units called Sweatcoins. The app runs on iOS and Android and uses a proprietary movement-validation algorithm to distinguish genuine walking from shakes, bumps, and other non-step motion, ensuring that rewards are only minted for authentic activity. Sweatcoins can be redeemed through an in-app marketplace featuring 600+ brand partners (including Apple, Amazon, Headspace, and Yogaclub), donated to charity, or converted into SWEAT cryptographic tokens on the NEAR Protocol blockchain via the companion Sweat Wallet app.

The company's go-to-market is product-led and community-led: a structured Influencer Program with 76,000+ creators drives top-of-funnel acquisition, regular prize-driven challenges and seasonal events drive engagement spikes, and partnerships with the UK NHS, Save the Children, and Embrace Relief extend the platform into healthcare, government, and charitable verticals. Sweatcoin has scaled to 120M+ registered users across 70+ countries, ranks among the Top-3 Health & Fitness apps worldwide, and reports a +20% sustained activity increase validated by the British Journal of Sports Medicine.

The business model is freemium, monetized through auto-renewing in-app subscriptions and purchases on Apple App Store and Google Play, marketplace revenue-share with brand partners, and the SWEAT token economy (with a declining minting rate to control supply). The company is privately held by SweatCo Ltd, has 51-100 employees, and has disclosed $13M in funding from a July 2022 round led by NEAR Foundation, Jump, Electric Capital, GSR Ventures, Spartan Capital Securities, and Goodwater Capital to support its blockchain pivot.

Name

Sweatcoin

Legal name

SweatCo Ltd

Website

https://sweatco.in

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Sweatcoin is a London-based move-to-earn fitness app that converts verified walking steps into Sweatcoins and SWEAT tokens, serving 120M+ global consumers and partnering with healthcare bodies like the NHS.

Ownership category

akta.pro rank

Product category

Move-to-Earn Fitness & Wellness

akta.pro primary industry

General Personal Training (In-Person & Virtual) (HSADAAAA)

akta.pro secondary industry

Online/Remote Personal Training & Programming (HSADAAAM)

Keywords

• Move-to-earn fitness
• Step-tracking app
• Digital rewards platform
• Gamified health incentives
• Crypto fitness rewards

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Others

Revenue model

1. In-App Purchases: Users can purchase in-app items and subscriptions (such as auto-renewing subscriptions) through the Apple App Store and Google Play Store. Revenue flows through the respective app store payment systems.
2. SWEAT Token Economics: The platform expanded into blockchain with the SWEAT token (September 2022 launch). The declining minting rate controls token supply and prevents inflation. SWEAT tokens enable staking, trading, and Web3 marketplace participation.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels10 records

Core offering

Sweatcoin operates a free mobile application that converts verified physical steps (using a proprietary movement validation algorithm) into a digital currency called Sweatcoins, redeemable in an in-app marketplace for products, services, gift cards, and charity donations. The platform extended into blockchain in September 2022 with the SWEAT token on NEAR Protocol, enabling users to stake, trade, and participate in Web3 offers via the Sweat Wallet app. The ecosystem also includes an Influencer Program for paid user acquisition, community Clubs, and time-bound challenges.

Product overview

Sweatcoin operates as a unified move-to-earn fitness ecosystem comprising the core Sweatcoin App (step-tracking and Sweatcoin minting), the Sweatcoin Marketplace (for redeeming Sweatcoins on third-party offers), the Sweat Wallet (non-custodial crypto wallet for SWEAT tokens), and the SWEAT Token (blockchain-based cryptocurrency on NEAR Protocol). The ecosystem also includes an Influencer Program with an in-app Influencer Hub for monetization, a Clubs feature for community challenges, and charitable giving through Sweatcoin for Good. The app's core value proposition is converting verified physical steps into rewards, with optional conversion to blockchain-based SWEAT tokens for advanced utility.

Differentiator

Problem solved

Functional benefit

Products and services

• Sweatcoin App Free mobile app (iOS/Android) that uses a proprietary movement validation algorithm to convert verified walking steps into Sweatcoins, redeemable for rewards, gift cards, charity donations, or convertible to SWEAT tokens. For individual consumers seeking gamified fitness incentives.
• Sweat Wallet Non-custodial cryptocurrency wallet app (iOS/Android) for storing, staking, trading, and spending SWEAT tokens within the Sweatcoin Web3 ecosystem. For Sweatcoin users seeking crypto and DeFi utility for their earned tokens.
• SWEAT Token Cryptographic token issued by The Sweat Foundation Ltd on the NEAR Protocol blockchain. Users convert Sweatcoins into SWEAT tokens, which can be traded, staked, and used for Web3 marketplace purchases. Features a declining minting rate to control supply.
• Sweatcoin Marketplace In-app digital marketplace where users redeem Sweatcoins for Sale Codes providing discounts, gift cards, and benefits from 600+ third-party brand partners including Apple, Amazon, Headspace, and Yogaclub. For Sweatcoin app users seeking tangible rewards.
• Sweatcoin Influencer Program Monetization program for social media influencers and content creators to earn cash rewards by promoting Sweatcoin through unique referral links. Includes the in-app Influencer Hub dashboard for tracking invites, earnings, and special promotions. 76,000+ influencers joined in 2022.
• Clubs In-app community-building feature that lets influencers create exclusive groups with custom challenges, collective step goals (e.g., 15 million steps in 14 days), and special step rewards for motivating followers. For Sweatcoin users seeking social, community-driven fitness engagement.
• Sweatcoin for Good (Charity Donations) Charitable giving feature allowing users to donate Sweatcoins to causes via partnerships with nonprofits including Save the Children (Ramadan Zakat Walkathon) and Embrace Relief (Ethiopia goat donation campaign). 391M Sweatcoins were donated to charity in 2023.

Quantifiable outcome

• Sweatcoin users walk 20% more, even six months after adoption
• +5 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• The Sweat Foundation LtdcoreStrategic or Co-development Partner · 28 July 2022The Sweat Foundation Ltd is the entity that issues SWEAT cryptographic tokens. Sweatcoin is integrated with the SWEAT token ecosystem, allowing users to exchange Sweatcoins for SWEAT tokens and access Web3 features through the Sweat Wallet app.
• NHS (National Health Service)coreStrategic or Co-development PartnerSweatcoin has partnered with the NHS to power healthy incentive programs. Using smart, data-driven methods, Sweatcoin helps people stay active and healthy for the long term, potentially reducing healthcare costs. This partnership positions Sweatcoin as a validated public health prevention tool.
• HeadspaceminorChannel Partner/ Reseller/ DistributorHeadspace is featured as a reward partner within the Sweatcoin app. Users can redeem Sweatcoins for Headspace subscriptions and digital wellness offerings through the Sweatcoin Marketplace.
• YogaclubminorChannel Partner/ Reseller/ DistributorYogaclub is listed as a reward partner offering yoga-related products and services redeemable with Sweatcoins through the Sweatcoin Marketplace.
• Save the ChildrenminorStrategic or Co-development PartnerSweatcoin partnered with Save the Children Foundation for the Ramadan Zakat Walkathon campaign, where users donated steps toward a collective goal and Sweatcoin made donations to the charity based on user participation.
• Embrace ReliefminorStrategic or Co-development PartnerEmbrace Relief, an international humanitarian nonprofit based in the United States, partnered with Sweatcoin for the 'Change the Lives of Women in Ethiopia' campaign, providing goats to women entrepreneurs based on collective step goals set by the user community.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Stepn: Stepn is the most direct move-to-earn competitor, allowing users to earn crypto tokens by walking/running. Both Sweatcoin and Stepn monetize physical movement via blockchain tokens, but Stepn focuses on sneaker NFTs while Sweatcoin is built on free step verification — making them head-to-head rivals in the move-to-earn category.
• Lympo: Lympo is a move-to-earn fitness app that rewards users with LYM tokens for walking, running, and other activities. Like Sweatcoin, it combines step-tracking with token rewards and operates a fitness-data marketplace, making it a direct Web3 fitness peer.
• Walken: Walken is a move-to-earn app that converts steps into WLKN tokens and combines fitness tracking with casual gaming mechanics. It targets the same Web3-native fitness audience as Sweatcoin and competes directly for early-mover share in the category.

Broad incumbents

• Strava: Strava is a leading fitness tracking app with social and competitive features for runners and cyclists. While it focuses on performance athletes rather than mass-market step rewards, it competes with Sweatcoin for engaged fitness users and influencer mindshare.
• MyFitnessPal: MyFitnessPal is a leading health and wellness app focused on nutrition and calorie tracking with a large consumer base. While not a direct step-rewards competitor, it competes for the same health-conscious consumer wallet and brand-partner budgets.
• Fitbit (Google): Fitbit, now owned by Google, offers step tracking, challenges, and a social network across its hardware devices. It is a broad incumbent with overlapping step-tracking and community features, and benefits from Google's platform distribution.

Others

• Headspace: Headspace is a meditation and wellness app that is both a Sweatcoin marketplace partner and an adjacent player in the broader digital wellness category. Comparable as a premium consumer wellness brand that competes for the same health-engaged user base and corporate wellness budgets.

Emerging players

• Charity Miles: Charity Miles rewards users for walking/running by generating corporate donations to charity. It overlaps with Sweatcoin's charitable-giving features (e.g., Save the Children Zakat Walkathon) and competes for cause-driven fitness users.
• FitFi: FitFi is a Web3 fitness app on the Polygon blockchain that rewards users for physical activity. It is an emerging player in the move-to-earn space with overlapping token-incentive mechanics but a smaller user base than Sweatcoin.
• StepBet: StepBet gamifies step tracking through betting-based challenges where users wager cash to win pools. Like Sweatcoin, it monetizes motivation to walk, but uses a wagering model instead of crypto/marketplace rewards, making it an adjacent behavioral-fitness peer.

Market position

Weaknesses5 records

Competitive moat6 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/sweatcoin
• Instagraminstagram.com/sweatcoin
• TikToktiktok.com/@sweatcoin
• Facebookfacebook.com/sweatcoin
• LinkedInlinkedin.com/company/sweatcoin

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sweatcoin