The Pro Padel League announced that it has raised $15 million in a Series A funding round led by Rick Schnall, marking its second major capital raise within a year.
The funding follows a $10 million seed round completed in March 2025 and includes participation from Left Lane Capital and other investors. The company plans to use the new capital to support its next phase of growth, focusing on team infrastructure, player development, and executing events across North America.
Founded in 2023 and led by CEO Mike Dorfman, the Pro Padel League operates a professional padel competition featuring 10 teams across the United States, Canada, and Mexico. The league includes both men’s and women’s competitions and aims to build a scalable platform for the sport’s continued expansion.
The company has continued to build momentum through partnerships with brands such as Frederique Constant and Franklin Sports. Several franchises within the league have been valued at more than $10 million, with team investors including athletes such as Francis Tiafoe and Maarten Paes, as well as Nacho Figueras and Edward Rogers.
To further support player development, the league recently launched PPL II, a new development league designed to identify and elevate emerging talent. The initiative includes more than $350,000 in guaranteed compensation and prize money.
The 2026 season will feature five events across North America, beginning in New York City in July and concluding with the City’s Cup championship event in Miami in December.
Padel continues to see rapid global growth, with approximately 35 million players across more than 110 countries. In the United States, the sport is projected to reach 20,000 courts and 15 million active players by 2030.
KEY QUOTES:
“Padel’s growth continues to accelerate here in the U.S. and globally. We’re grateful to Rick Schnall, Left Lane Capital, and all of our investors for believing in our vision for the PPL and the sport’s long-term potential. This investment will help elevate our league, teams, and players, as we deliver world-class events featuring the best padel athletes in the world.”
Mike Dorfman, CEO of Pro Padel League
“Padel is one of the fastest-growing sports in the world, and the Pro Padel League is uniquely positioned to lead that continued expansion in the U.S. The PPL’s momentum, world-class talent, and innovative team model create a powerful, scalable platform. We’re excited to support PPL as it grows the sport, builds passionate fan communities, and establishes itself as a premier sports property.”
Rick Schnall, Charlotte Hornets Co-Chairman and Governor
