Fresh funding is pouring into the world of padel. Playtomic, a leading player in the sport, has just closed a massive €65 million financing round. This substantial investment includes €55 million in capital and €10 million in debt, courtesy of Banco Santander. The funds will be used to bolster Playtomic’s global presence, with a focus on key markets like the US, UK, and Germany.
What’s next for Playtomic
The new capital injection will also drive improvements to the company’s products and technology. Specifically, Playtomic plans to enhance its club management software, Playtomic Manager, and optimize the overall player experience on its app.
This investment round was led by Match Invest, a investment vehicle headed by Playtomic’s CEO, Félix Ruiz, and Luxembourg Finance House (LFH), a company owned by Dutch multimillionaire Frank Zweegers. Other investors, including Bonsai, Arconas, GP Bullhound, and FJ Labs, also participated in the round.
In 2024, Playtomic has seen significant growth, with gross revenues exceeding €240 million, driven by a 40% annual growth rate. The company now boasts 6,000 clubs and 1.5 million active monthly players. This surge in popularity underscores the rising global appeal of padel.
According to Félix Ruiz, CEO of Playtomic, “We’re expanding rapidly worldwide, especially in the US. Our customers will not only notice improvements in our technology but also be excited about Playtomic’s global growth, which will enrich our community.”
Currently, the platform has clubs in 63 countries, with padel gaining traction in strategic regions like the US, UK, Germany, and Asia-Pacific. In the US alone, over 50 clubs have already been activated on the platform, anticipating a rapid growth in the padel market, which is expected to reach 3,000 courts by 2026.