Wellhub adds $18.8M to credit fund for Brazilian gyms
Wellhub added $18.8M to its credit fund for partner gyms and studios. Galapagos Capital manages the fund, and… The post Wellhub adds $18.8M to credit fund for Brazilian gyms appeared first on LatamList .
Wellhub has increased its credit fund for Brazilian gym partners by $18.8 million. The credit fund is managed by Galapagos Capital, with QI Tech handling administration and custody. Wellhub links employees to gym, studio, wellness service, and fitness app offerings via corporate benefit plans. The company collaborates with over 45,000 partners in Brazil and 110,000 internationally.
The credit fund provides loans backed by receivables generated by partners through Wellhub. Repayments are automatically deducted from partner payouts, and one third of Wellhub's Brazilian partners already have access to a preapproved credit line. The additional funding aims to support around 1,000 more partners. In the future, Wellhub plans to expand the credit model to other countries by collaborating with financial institutions, rather than establishing its own.
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