Enhance raises $18.2M in equity and venture debt to push into US gyms

DUBAI — Enhance has raised $18.2M in a round that mixes equity led by Global Ventures with venture debt from Stride Ventures. Wamda reports the company, founded by Tarek Mounir and describing itself as the operating system for personal training, is used by more than 700 US clubs, including Crunch Fitness and UFC Gym locations, and has grown revenue at a 65% compound rate since 2019. The money goes to US expansion.

The equity-to-debt split was not reported. The direction of travel was: a Gulf-built vertical SaaS company raising regional money to win in America, which is the reverse of the flow this desk usually reports.

What it prices in: Stride’s debt tranche is the tell. Non-dilutive capital arrives for GCC software once the revenue is real and recurring, and a 65% growth rate over six years is the kind of number a lender can underwrite.

Will it work? The US fitness market does not care where its software was built. It cares whether trainers use it. Seven hundred clubs says they do; the round says the founders want seven thousand.

Source: Wamda