Wellhub Expands Gym Financing Fund by US$18.2 Million in Brazil
Wellhub adds US$18.2 million to its Brazilian gym financing fund, expanding credit access and preparing to bring the lending model to other markets.
Wellhub is adding R$100 million (approximately US$18.2 million) to its credit fund for partner gyms in Brazil, expanding access to financing for fitness businesses. The initiative follows the company's first lending cycle, which supported more than 1,000 establishments, and forms part of a broader strategy to provide financial services to its partner network.
Wellhub Expands Financing for Partner Gyms
More than a year after entering the financial services market, Wellhub is increasing its investment in credit solutions tailored to fitness businesses. According to Daniel Mazini, the company's head of global partnerships, the first funding cycle demonstrated significant demand for financing designed around the industry's needs.
"Gyms and studios want to grow, improve their facilities, purchase more modern equipment, open new locations and serve more people, but access to low-cost capital can still be a barrier for many of these businesses," Mazini said.
The new fund retains the original structure. Receivables generated by partner businesses through the Wellhub platform serve as collateral, while loan installments are deducted directly from payments the company makes for member check-ins. Galapagos Capital manages the fund, with QI Tech responsible for administration, custody and recordkeeping.
Loans Support Investments of Different Sizes
The first R$100 million fund, equivalent to approximately US$18.2 million, provided loans averaging R$130,000 (US$23,600), with repayment terms of up to 30 months. Most financing went to small and medium-sized businesses.
For the new round, Wellhub expects to maintain a similar approach, targeting approximately 1,000 establishments.
Previous loans illustrate the range of financing needs. A gym in Bahia received R$180,000 (US$32,700) for infrastructure and equipment, while a business in Pará borrowed R$200,000 (US$36,400) to modernize its facilities.
Larger projects also benefited. A partner in Rio Grande do Sul obtained R$2.2 million (US$400,000) for working capital and equipment, while a business in Greater São Paulo and the Baixada Santista region received R$2.5 million (US$454,500) to open new locations. In Rio de Janeiro, a R$5 million loan (US$909,100) is financing the expansion of three locations and the completion of construction work.
According to Mazini, these cases demonstrate how the program can support businesses at different stages, from operational investments to large-scale expansion.
Credit Extends Beyond Wellhub's Own Network
Wellhub reported that four out of five credit transactions went to gyms that also work with competing platforms. Mazini said this reflects the initiative's broader objective of supporting fitness businesses, rather than restricting financing to partners that work exclusively with Wellhub.
The company has not yet established a consolidated measurement of the program's direct impact on revenue growth or the opening of new locations. For now, it is tracking how the funds are being used, with investments directed toward operations and expansion. A more comprehensive assessment will follow as the initiative matures.
Insurance and Weekly Payouts Broaden Financial Services
In August 2026, Wellhub expanded its financial services portfolio with two additional products, bringing its offering to three areas: credit, insurance and payment advances.
Insurance, developed with Avla Seguros Brasil, covers civil liability, property damage, equipment theft, natural disasters and business interruption losses, alongside 24-hour assistance. Digital plans start at R$54.58 per month (approximately US$9.92).
The third offering, Weekly Payouts, allows eligible partners to receive payments weekly instead of waiting for the regular monthly cycle. In exchange for earlier payment of receivables owed by Wellhub for member check-ins, businesses pay a discount that the company has not disclosed.
"Our role starts with generating new users and revenue for these businesses, but we understand that we can go beyond the check-in," Mazini said.
Wellhub Plans International Credit Expansion
Despite its growing financial services portfolio, Wellhub does not intend to become a financial institution. Instead, the company plans to work with specialized providers to develop solutions based on its understanding of the fitness industry and its relationships with more than 45,000 partners in Brazil.
The Brazilian market has served as a testing ground for the credit model, which Wellhub now plans to introduce in other countries. Its global network includes more than 110,000 partners.
"We are already working to bring the credit solution to other countries and expect to announce developments on this front soon," Mazini said.
