Glofox deploys Stripe Capital to offer financing to gyms and accelerate growth of the fitness industry

According to the press release, in addition to Stripe Connect, Glofox will now use Stripe Capital and Stripe Terminal to power thousands of fitness entrepreneurs around the world. As lockdowns ease, cash flow is as important as ever for fitness entrepreneurs and studio owners aiming to grow and scale their business. 

With Stripe Capital, Glofox is now offering flexible financing to allow businesses to invest in their expansion, whether that’s buying new equipment, growing their staff, or upgrading their in-studio experience. There’s no lengthy application process, and eligible businesses can access funds almost instantly, and repay the amount with a fixed percentage of daily sales.

Overall, by giving gyms access to fast, flexible financing, Stripe Capital will provide a powerful growth opportunity for businesses on Glofox, particularly as they welcome members back into their spaces. Besides, to make it easier for businesses to offer an omnichannel experience, Glofox has deployed Stripe Terminal in the US and Canada (with five more countries coming soon). 

Terminal gives gyms and fitness studios a simple way to set up modern EMV card readers and help customers check out with ease. Businesses then have a unified view of payments made in person via Terminal and online via their website or app.