Spain's Playtomic buys rival GotCourt, reaches 200 million euro valuation

MADRID - Spanish startup Playtomic, which rents racket sports courts through a mobile phone app, bought its rival in Germany, Switzerland and Austria GotCourts, the company said on Tuesday.

Through the acquisition and a 56 million euro funding round in December, Playtomic reached a valuation of more than 200 million euros ($225.16 million), its co-CEO Felix Ruiz said.

Playtomic said it is now present in 34 countries and has more than one million active players registered.

($1 = 0.8883 euros)