Business

Brazil's unicorn GymPass launches POS for gyms in partnership with fintech Hash

The supply of POS is made on-demand and Hash's goal is to be able to serve the entire network of establishments accredited to Gympass, about 23,000 gyms

Hash's CEO and co-founder, João Miranda. Photo: Paulo Vitale
  • As of this month, Gympass’ partner establishments that acquire the POS will have exclusive benefits and fees, according to the companies;
  • In 2019, Hash transacted BRL 150 million and by 2020 the expectation is to reach BRL 500 million.

Brazil’s unicorn Gympass, a corporate welfare benefit platform, announced a partnership with the fintech Hash, to launch the Gympass Plus POS for gyms. As of this month, Gympass’ partner establishments that acquire the POS will have exclusive benefits and fees, according to the companies.

According to the firms, Gympass has already communicated its entire base of partner academies and the POS acceptance “has been very positive.”

Gympass Plus POS. Photo: Hash/Courtesy

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The supply of POS is made on-demand and Hash’s goal is to be able to serve the entire network of establishments accredited to Gympass, about 23,000 gyms.

Samir Zetun, Vice President of gyms for Gympass, said that the partnership brings better fees and benefits that a gym alone would not be able to have in this pandemic period.

“Our goal at Hash is to increasingly contribute to the democratization of the means of the payment market, so we take care of the whole process and develop technology that is adaptable to the needs of each segment”, explains João Miranda, founder, and CEO of Hash. “We are aware of the difficulties faced by gyms in recent months and we are sure that the POS will be another source of income and growth for the sector”, he said in a press statement.

READ ALSO: Wellness-benefits startup Gympass focuses on digital solutions and resumes growth

In 2019, Hash transacted BRL 150 million and by 2020 the expectation is to reach BRL 500 million. Hash has been in talks with investors and expects a new fundraising by 2021.

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