Boxmagic strengthens its position in LATAM’s fitness market

In an ecosystem where 90% of startups don’t survive beyond five years, Boxmagic has defied the odds. The startup, specialized in gym management software, announced that it has reached operational break-even, remaining self-funded over the past year. This milestone positions it as a success story in Latin America's competitive tech landscape.

With 172,000 active users across five countries and 70% growth in monthly recurring revenue (MRR) in 2025 in Mexico—its most strategic market—Boxmagic proves that localized tech solutions can successfully compete with global platforms.

LATAM’s fitness industry demands adapted solutions

The fitness sector in Latin America is undergoing a rapid digital transformation. According to the Global Health & Fitness Association, the industry generated US$4.2 billion in 2024, with an annual growth rate of 8.3%. Yet, technology adoption remains low: only 35% of gyms in the region use specialized management software, compared to 78% in more developed markets like the U.S. and Europe.

“In a market with high entry barriers for non-local platforms, our competitive edge lies in deep product localization. We created a solution from Latin America, for Latin America,” says Melisa Pereyra, CEO of Boxmagic.

This localization strategy has been key to their expansion. McKinsey & Company reports that companies adapting their products to local markets are 40% more likely to succeed than those simply replicating global models without adjustments.

Strategic alliances fuel scalability

Boxmagic’s growth strategy relies on strategic partnerships with global platforms aiming to enter the region. Its integrations with ClassPass (30 million global users) and Wellhub (formerly Gympass, with over 50,000 gyms in 11 countries) have been important growth catalysts.

“Reaching this milestone validates the strength of our model and enables us to scale from a stable financial base,” adds Pereyra. “It also gives us confidence that our company is healthy and sustainable over time.”

The global fitness SaaS market is valued at US$2.3 billion and is projected to grow at a 14.7% CAGR through 2030, according to Grand View Research. In Latin America, the pace is even faster, driven by post-pandemic digitalization and rising smartphone penetration.

Technology tailored to local needs

Boxmagic’s competitive advantage lies in its deep understanding of the Latin American market. Its platform features:

• Local financial integrations: Compatible with Mercado Pago, which processes 70% of digital payments in Argentina and Mexico.
• Regulatory compliance: Supports electronic invoicing, mandatory in countries like Mexico and Chile.
• Biometric technology: Integrated with access control systems used in 85% of premium gyms in the region.
• Localized UX: Interfaces designed for LATAM gym owners, with onboarding processes 60% faster than international competitors.

Next phase: profitable expansion

With operations consolidated in Mexico, Chile, Brazil, Ecuador, and Honduras, Boxmagic now targets markets like Argentina, Colombia, and Peru.

“Sustained growth in Mexico, with over 70% MRR growth this year compared to 2024, reinforces our ability to scale profitably in strategic markets,” says Pablo Larenas, COO of the company.

The platform’s technical architecture enables expansion into new markets with minimal adaptation, mainly around local payment integrations. This scalability offers a key advantage in a region where time-to-market is critical.

A replicable model for Latin America’s tech ecosystem

The Boxmagic story shows how Latin American startups can compete successfully by building solutions tailored to regional needs, combining local insight with global technical standards.

In a context where only 3% of startups in the region reach break-even before year five, according to the Latin American Venture Capital Association (LAVCA), Boxmagic stands out as a replicable model for the region’s tech ecosystem.

With over eight years of experience, Boxmagic was selected for Startup Chile’s Growth 5 program (2024). Its mission is to democratize access to sports in Latin America by empowering fitness centers that promote healthy lifestyles.