PadelDrop soars and sets sights on new markets
The Spanish enterprise envisions concluding 2023 with a business volume of €260,000 and reaching €2 million by 2024, as revealed by its founder in an interview with Palco23.
PadelDrop, the Spanish start-up specializing in selling padel balls through vending machines, has experienced rapid growth. Founded in 2022, the company has successfully established itself in Spain and, with the support of funding rounds, is now making a leap into the US market.
Arturo Coello and Javier Garrido as shareholders
Renowned players like Arturo Coello and Javi Garrido have become shareholders in the company, participating in its latest funding round, which raised over €200,000. This has allowed PadelDrop to expand its operations to cities like Miami and New York.
"The company generates revenue through the sale of balls via its vending machines. The installation of these machines in clubs is free, and PadelDrop provides the clubs with a fee amounting to 15% to 20% of the sales price," explained founder Álvaro Francisco Moral to Palco23.
PadelDrop is actively seeking a new round of funding, with hopes of raising approximately €700,000. The company's primary goal is to double its points of sale by the end of this year, reaching two hundred active machines by 2024, with the main objective of entering the Middle Eastern market.