Rocket Padel has raised €8m (£6.8m) as the international club operator pushes ahead with plans to open two major new sites in West London and East Croydon.
The funding round values the business, which runs five clubs in Denmark, four in the UK and is building its first in Spain, at an undisclosed eight-figure sum, it said.
Rocket Padel says the UK is its biggest growth market, with court time at its flagship Battersea Power Station club 95 per cent fully booked, and the company is actively seeking further sites in London and beyond.
“The opportunity is to turn growing participation in padel into a durable leisure business,” said chairman and lead investor Morten Bugge.
“Our focus is on locations where repeat play, hospitality and corporate demand can support several revenue streams within the same venue.
“This funding gives us the capacity to invest in larger destinations and build on the operating experience we have developed.
“The UK is central to our next phase of growth, and we are open to bringing in additional strategic partners where they can help us accelerate that opportunity.”
The expansion comes as padel continues to grow in popularity, with the number of active players hitting 1m and the sport’s elite pro tour visiting London for the first time this year.
Rocket Padel targets event bookings and longer visits
Rocket Padel’s East Croydon club, due to open in early 2027, will be located next to the station and Boxpark and feature nine courts, a cafe and bar and flexible social spaces.
The site in Shepherds Bush, in a former film studio, will house 11 courts, golf simulator pods and food and drink facilities.
The company is increasing the prominence of hospitality and social spaces at its new clubs as it looks to attract more event bookings and longer visits.
Businesses who have used Rocket Padel clubs for corporate events and client entertainment include Goldman Sachs, JPMorgan, Blackstone, Google and American Express.
“Our experience is that the opportunity extends well beyond the hour someone spends on court,” said co-founder Sebastian Gordon.
“People come to play, but they also come to meet friends, entertain clients and spend time together. Coaching, food, drinks and events all contribute to the experience – and to the business. At W12 and East Croydon, we’re designing those elements together from the beginning.
“Battersea has given us a clear view of the appetite for high-quality padel and hospitality in London. These two developments give us the space to take that experience further, serve more players and host larger events.”
Rocket Padel’s other UK sites are in Beckton, Ilford and Bristol. Its first Spanish venue is due to be built near Marbella.