Image: Paceline
Fitness rewards platform Paceline unveiled its wellness credit card, linking financial incentives with physical activity.
With the Paceline Card, users who exercise 150 minutes per week unlock rewards, increased cash back, and other benefits. Cardholders can also get reimbursed for an Apple Watch, including the recently released Series 7.
- Paceline has raised more than $34M in funding, including a $25.9M Series A this summer.
- Users on the platform have logged 1.5B exercise minutes and over 40M workouts.
- Since last year, more than 1M rewards representing over $3.5M in value have been redeemed.
According to Paceline CEO Joel Lieginger, the platform is designed for “the next-generation connected consumer” that “prioritizes the physical and financial health of the cardholder.”
Why it matters. Americans’ health is in serious decline. Despite new fitness tech like wearables or at-home gyms, 80% of Americans don’t exercise enough for optimal health. And the economic fallout from obesity has eclipsed $1.7T, equivalent to 9.3% of US GDP.
Cashing in. As we detailed in our report on Pay-for-Fitness, a growing number of startups are paying users to work out.
- Sweatcoin and Clinicoin pay out in crypto for steps and healthy activities.
- Cadoo gamifies workouts by leveraging your wagered cash as accountability.
- HealthyWage lets you earn up to $10,000 when you meet weight loss goals.
- Ness, a yet-to-launch wellness credit card, aims to incentivize healthy living.
Punchline: Pay-for-fitness hasn’t yet caught on at scale, but it could be key to cracking the human element of exercise, like willpower and accountability.
