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ClassPass

“Can a global fitness subscription marketplace become the financial and operational backbone for tens of thousands of wellness studios worldwide?”

Founded2013
HQNew York City, New York, U.S.
FoundersPayal Kadakia, Sanjiv Sanghavi
Total raised$255M+
Latest roundPE Growth (Mindbody acquisition, 2021)
IndustryMarketplace / Two-sided
The story

Founded in 2013 as a fitness-class aggregator, ClassPass evolved from a simple discovery tool into a global subscription marketplace connecting consumers with fitness studios, gyms, salons, and wellness providers across 30+ countries. The company built meaningful embedded finance infrastructure — most notably a global studio payout engine powered by Modern Treasury's Ledgers API — to handle tens of thousands of partner payouts. After being acquired by Mindbody in 2021 and folded into the Playlist parent brand in 2025, ClassPass has shifted from an independent fintech-adjacent startup to a product line within a broader wellness software conglomerate.

Last 12 months
2025-06
Product timeline
2010
Founded as Classtivity by Payal Kadakia and Sanjiv Sanghavi, focused on fitness class discovery.· pivot
2012
Launched Passport product allowing users to try one fitness class at a new studio; emerged from TechStars.· pivot
2013
Rebranded as ClassPass in June 2013 and launched subscription model for unlimited fitness class access.· pivot
2014
Formally rebranded from Classtivity to ClassPass; acquired FitMob; closed $12M Series A.· acquisition
2018
Closed $85M Series D led by Temasek, bringing total funding to $255M; expanded internationally across 30 countries.· banking
2021
Acquired by Mindbody Inc., becoming an operating subsidiary.· acquisition
2025
Playlist created as parent brand, uniting ClassPass with Mindbody and Booker under a single identity.· pivot
The stack
2 layers disclosed in ClassPass’s embedded-finance stack
Payments / PSP
Stripe
Ledger
in the full report
Accounting gap: significant
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.