Madrid-based Playtomic has closed one for 56 million euros, with which plans to reinforce its growth strategy to consolidate itself in the market for sports court managers.
The round was led by the Nordic fund GP Bullhound, and co-founder Félix Ruiz (ex Tuenti), Claret Capital Partners and Optimizer Invest also participated. Of the total, 50 million euros is capital and 6 million venture debt, that is, an equivalent to loans convertible into shares. So far Playtomic has raised more than 70 million euros.
This is Playtomic, the Spanish startup that has changed the rules of the game
Playtomic was born in 2017, by Pedro Clavería, Féliz Ruiz and Pablo Carro. The startup started as a padel court booking app and little by little he extended his reserves to other racket and team sports.
And it is that the basic idea is very simple: if there are reservations for movie tickets, reservations for restaurants, or for hotels and flights why not move that online booking facility to the courts for a game after work?
help users to search and reserve a court for paddle tennis, tennis, soccer courts and more sports in the more than 4,000 clubs that use its software solution, for example, it has reservations at sports centers in Madrid, Barcelona, Malaga or Alicante, among many others.
This 2021 Playtomic will close in a figure close to 80 million euros of gross turnover, especially due to the more than a million monthly reservations that they manage. And it is that for each of these reservations the company charges a commission as pure distributors. The startup acquires the volume of free spaces from the clubs and then manages the reservations in them.
It will seek to continue expanding its services and its inorganic growth
According to , co-CEO of Playtomic, “Although the clubs are beginning to digitize, the user experience for racket athletes in much of the world remains insufficient. Our mobile app for players and software for club owners makes it easy to create matches and book. And, now, with the funding raised, we are in a strong position to continue expanding services to new markets worldwide.
While the vast majority of Playtomic’s revenue currently comes from booking management, the goal behind this round is boost your subscription model: in the short term, it will seek a 50% distribution between payments for premium services in the players’ app, and reserve management on the other. In the medium term, the objective is for the subscription model to represent 80% of the total, and by then Playtomic hopes to include other tools such as the creation of matches with similar players or the introduction of statistics in its application.
Another one of its objectives is accelerate your inorganic growth strategy: in the last two years Playtomic has acquired a dozen smaller rivals in various markets, such as the United States, Sweden, Belgium, Italy and Portugal and now the company is in negotiations to close two more acquisitions.
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