Export Fund unlocks growth for fitness software platform
Membr, a fitness software platform based in Manchester, is expanding to new territories after repaying its third loan from the GM Export Fund, delivered by GC Business Finance (GCBF). The total of £400,000 has so far helped with product development to ensure the platform is marketable in new international territories.
Founded by Jack Malin following his early career as a personal trainer, Membr is a cloud-based software platform that offers a full gym management solution used by over 2,000 gyms worldwide.
Following three separate funding rounds from GC Business Finance over a two-year period, Membr has grown from a team of 14 to over 50 and is still actively hiring. It provides software to the biggest global gym franchise, Anytime Fitness, providing a platform for its gyms in Europe, the Middle East and Asia Pacific. 85 per cent of Membr’s revenue is from international markets.
The majority of the investment has gone towards product development to ensure the software can accommodate local regulations and languages. Membr has recently launched in Japan and is the currently only foreign software company operating there. To support this growth, Membr is looking to take on several more employees in its Manchester based team this year to continue the development.
Jack Malin, CEO of Membr, said: “We’re delighted with just how far and wide Membr has grown! From an original idea to help personal trainers to more effectively manage their time to ending up as a total software solution for gym owners in over 20 countries across the globe, the whole team is very proud of what we have achieved so far. We wouldn’t be here without the continued help and support from GC Business Finance who supported us and helped get us to where we are today.
GC Business Finance (GCBF) provides alternative finance products to support growing businesses who are unable to obtain funding through a mainstream lender such as a high street bank, to achieve their goals. It has a proven track record in supporting SMEs across the North West.
Andy Nichols, senior loan manager at GC Business Finance, said: “We strive to support businesses that show huge innovation but have been overlooked by other lenders. We are elated to have supported the team at Membr and hope to continue playing a part in their growth in the future. Funding is still available through the GM Export Fund for growing businesses based in Greater Manchester, so we’d encourage any business with export ambitions to get in touch!”
To find out about the GM Export Fund and how businesses benefit from loans of up to £250,000 read more here: https://businessfinance.growthco.uk/what-we-do/export-loans/