The Padel Club, based in Wilmslow, has become the first Cheshire business to get funding from the £660 million Northern Powerhouse Investment Fund II.

The club raised £3.8 million in its latest funding round, with £1.5 million coming from NPIF II via Praetura Equity Finance. Existing investor Endeavour Ventures provided additional investment.

The deal is the first equity investment for the fund in the North West, and Praetura’s first deal completed through NPIF II.

Founded in 2020 by Kris Ball, who saw the rise of the game while living overseas, the club is looking to grow by capitalising on a pipeline of sites it has built. The club currently operates four courts and recently announced plans to open a new site in TraffordCity, which will host 11 high specification courts, alongside a clubhouse for players to relax and socialise.

The investment from NPIF II – Praetura Equity Finance will help facilitate its latest site expansions, with the finance provided being used to build 42 new courts by 2025. The Club has also won Leading Newcomer Award Winner at the This Is Manchester Awards 2023.

Charlotte Kopciowski, head of finance at The Padel Club, said: “We are a North West based start-up which has developed a real community at our club in Wilmslow. NPIF II is designed to increase the supply and diversity of early-stage finance and we feel that we fit very well into this as an ambitious young company looking to grow and bring Padel to more communities. We are very excited to be partnering with Praetura and the expertise that they can add to our already strong board and management team.”

Louise Chapman, fund principal at Praetura, said: “We’re delighted to be involved in The Padel Club’s ongoing growth story, with the business now in the perfect position to capitalise on a wealth of new interest in this hugely popular sport. This is one of the largest external fundraises by a padel operator in the UK to date, which reflects the strength of the team and the premium offering they’ve brought to the sector.” 

NPIF II, backed by the British Business Bank, covers the entire North of England and provides loans from £25,000 to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses to start up, scale up or stay ahead.