Cover image via ASCARO (Provided to SAYS)ASCARO, the leading name in premium padel clubs, has officially launched an equity crowdfunding campaign on pitchIN to raise RM20 million
The funds will drive ASCARO's expansion into Southeast Asia, with plans to open four state-of-the-art padel clubs in Kuala Lumpur and Jakarta by 2025.
For as little as RM4,550, investors can get in on the action. Higher investment tiers come with additional perks, including free club memberships at ASCARO Padel & Social Club.
"Padel has grown fast in Southeast Asia and ASCARO is going beyond merely filling a market gap. We are crafting an entirely new paradigm for urban recreation and networking, creating a unique blend of athletic pursuit and luxury lifestyle.
"You can be part of this wave and leverage ASCARO's unique platform in accelerating the growth of padel in the region," said Daniel Liljekvist, managing director and partner at ASCARO.
Image via ASCARO (Provided to SAYS)
Padel, a fast-paced sport combining elements of tennis and squash, has seen explosive global growth, with 25 million players across 110 countries
However, the Southeast Asian market remains largely untapped, with only about 30 clubs in Kuala Lumpur, Bangkok, and Jakarta combined — a stark contrast to the 20,000 clubs worldwide.
With the Asian Development Bank forecasting the region's economy to grow by 4.5% in 2024 and 4.7% in 2025, rising disposable incomes and increasing demand for premium experiences make now the perfect time to expand.
Additionally, sports and social activities are thriving, with 48% of Malaysians participating in weekly sports and Thailand seeing a 25% rise in mass sports events in 2024.
Image via ASCARO (Provided to SAYS)
ASCARO's flagship club at 1 Utama has already proven its success, turning a profit within its first year
Court usage surged from under 50% to over 90% by mid-2024, driving revenue growth from RM1.8 million in 2023 to RM4 million in 2024.
The company's diversified revenue streams, including memberships, court rentals, events, sponsorships, coaching, and merchandise, provide long-term financial stability.
Each new ASCARO Padel & Social Club is projected to generate RM3 million in annual cash flow, with a goal of launching 15 clubs by 2027. By then, ASCARO expects a group-wide profit of over RM40 million, with plans for an IPO or a company sale at a valuation of at least RM400 million.
For investors, this means a potential 4x return within three to four years. A safer alternative is also available — preferred shares with 15% annual dividends for four years, plus a 150% buyback at the end of the term, offering approximately 2x returns in four years.
Image via ASCARO (Provided to SAYS)
ASCARO is more than just a padel club — it's a premium lifestyle experience
The expansion plan includes:
– Spanish black courts from Padel Galis
– Professional coaching and tournaments
– Luxury wellness facilities (gyms, yoga, meditation, spa, and recovery services)
– Gourmet restaurants and cocktail bars
– Networking lounges and co-working spaces
"ASCARO stands for 'And So Came A Revolution'. Not only has ASCARO pioneered padel in Malaysia, it has also meticulously crafted a unique approach that seamlessly blends the worlds of sports and socialising.
"Through this crowdfunding initiative, we are inviting our community to become co-owners of this exciting next step in our journey," said Stan Zabolotsky, ASCARO co-founder.
Image via ASCARO (Provided to SAYS)
