Playtomic raises $70 million in funding to accelerate expansion in US market

The new investment will be used to capitalise on the rapid growth of padel in the States and improve the platform’s club management and player experience.

Author

Jonathan Dyson
March 20, 2025

Playtomic has finalised a major new investment round of $70 million (€65 million), including €55 million in equity funding, and €10 million in debt financing from Spanish bank Banco Santander.

The Madrid-based booking app, said to be the world’s largest community and platform for racquet sports, made the announcement ahead of RacquetX, taking place in Miami on 22-24 March.

The company said the capital infusion will be “utilised to bolster and expand Playtomic's global presence, with a particular emphasis on the US as well as with product and technology enhancements.”

According to Playtomic, the firm’s gross revenues exceeded $260 million (€240 million) in 2024, up 40% on the previous year. Its platform is now used by 6,000 clubs and 1.5 million active players per month.

Playtomic currently has clubs on its platform in 63 countries, and the firm noted that padel is gaining traction in some of its key strategic regions such as the US, UK, Germany and APAC.

It said its “primary focus is the US market, where padel is experiencing significant growth.” Playtomic has more than 50 clubs in the US on its platform, and said it is “anticipating a very rapid market growth for padel” in the country, with the number of courts expected to reach 3,000 by 2026.

Playtomic co-founders (left to right): chief strategy officer (CSO) Pedro Claveria, CEO Félix Ruiz, and chief commercial officer (CCO) Pablo Carro. Image credit: Playtomic.

Playtomic added that the new investment “will fuel product development with a strong focus on enhancing player and club experience. This includes improving the management software for clubs (Playtomic Manager) and enhancing the overall player experience.

“The company will also continue to develop its point of sale system (POS), activities, academy and tournament features and to expand functionality for multi-venue clients.”

Playtomic said it is “dedicated to improving the player experience in the app, making booking, matchmaking, and community engagement smoother and more enjoyable,” adding that it is “constantly exploring new opportunities and channels to generate incremental value for its ecosystem.”

Commenting on the fundraise, Félix Ruiz, CEO of Playtomic, said: “Playtomic is rapidly expanding worldwide and specifically in the US and the news couldn’t come at a more pivotal moment.

“We are thrilled to announce this capital increase and are confident that customers will not only notice enhancements within our technology, but they will also be excited about the growth of Playtomic worldwide which will enrich our community.”

The fundraise was led by Match Invest, an investment vehicle spearheaded by Félix Ruiz and the fund LFH (Luxembourg Finance House), owned by Frank Zweegers. 

Additional notable investors include the funds Bonsai and Arconas and existing investors GP Bullhound and FJ Labs. Playtomic confirmed it has also obtained a €10 million ($11 million) debt facility from Banco Santander.