‘Mental fitness’ platform for workplaces wound up

An employer-led mental fitness training platform which raised £1.2 million in 2021 has been wound up by the courts.

Fika, founded in 2017 and based in London, is now in liquidation, while a meeting of creditors has been scheduled for 2nd August.

Fika was specifically focused on mental fitness – not mental health – with a mission to make mental fitness as normal and necessary as physical fitness. 

It was the brainchild of Nick Bennett and Gareth Fryer. Bennett has experienced first-hand the devastating toll that poor mental health can take on someone, having lost his best friend to suicide, while Fryer has faced intense mental health challenges due to two cancer diagnoses.

Its clients included leading retailer DFS while its funding came from Rising Stars and a syndicate of 10 angel investors from the US and UK, including Brian Posner, chair David Gallagher, Srin Madipalli and Pam Garside. 

HR Duo raises €1.7m to expand further in UK

Fika aimed to support the 80% of the workforce which falls between workplace perks and employee assistance programmes – those who categorise themselves as ‘fine’, but who, in reality, are rarely given the tools to deal with everyday challenges.

“You would never run a marathon without training, yet employees are consistently being put under pressure to perform their role without the relevant mental fitness skills or training,” Bennett said when raising the funding.

Posner said at the time: “We are seeing a clear trend towards a need for sustainable skills development for mental fitness and post-pandemic duty of care. I am delighted to be joining as chairman and look forward to seeing Fika go from strength to strength.”

BusinessCloud has contacted Bennett for further context around the liquidation.

Athena Festival to help female founders ‘feel more heroic’