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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/payasyougo-gym-plan-raises-cash.jpg"><img class="alignnone size-full" title="A pay-as-you-go gym venture has secured £260,000 in funding from private investors" src="http://londonglossy.com/wp-content/uploads/2010/12/min-payasyougo-gym-plan-raises-cash.jpg" alt="A pay-as-you-go gym venture has secured £260,000 in funding from private investors"/></a></p>
<p>A new pay-as-you-go gym venture has secured £260,000 in funding from private investors as it looks to revolutionise the health club market.</p>
<p>Investment firm Envestors said it had successfully launched a financing from private investors for start-up company payasUgym, which aims to offer casual gym users access to a network of gyms on a pay-as-you-go basis with no membership ties.</p>
<p>PayasUgym is hoping to launch next month, allowing customers to &#8220;load&#8221; cash on to an online account that can be used at a wide range of fitness centres, from spas to leisure centre gyms.</p>
<p>Jamie Ward, co-founder of payasUgym, said: &#8220;Consumers are increasingly demanding more choice and flexibility with their gym memberships.</p>
<p>&#8220;PayasUgym will address these existing market restrictions and provide affordability and convenience for casual gym users.&#8221;</p>
<p>Customers will be able to buy pay-as-you-go passes through payasUgym&#8217;s website or with smartphone applications.</p>
<p>But it is likely to face competition in providing more affordable gym access, with serial entrepreneur Sir Stelios Haji-Ioannou planning to launch a budget fitness club offering next year.</p>
<p>Sir Stelios is gearing up to launch easyGym in the first half of 2011 allowing users to sign up for monthly-only contacts costing as little as £15 a month.</p>
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