#Asia Paktor bags US$10M to disrupt online dating in Japan and Korea


Singapore’s answer to Tinder will also ramp up sales and marketing efforts in Indonesia and its O2O services in its 7 existing markets


Singapore-based dating app Paktor has raised US$10 million from YJ Capital, the Corporate Venture Capital of Yahoo Japan, and other new investors to the company; Global Grand Leisure, Golden Equator Capital and Sebrina Holdings Venture Capital, along with existing investors — Vertex Asia Fund, PT Media Nusantara Citra Tbk. (‘MNC Media Group’), Majuven, and Convergence Ventures.

The funding will be used to fuel expansion into North Asia markets namely Japan and Korea. It will also be used to ramp up sales and marketing efforts in Indonesia and online-to-offline(O2O) services in its seven existing markets — Singapore, Malaysia, Indonesia, Vietnam, Thailand, Taiwan and Korea.

“This latest funding round will help further grow our leadership in the rapidly growing lifestyle and social dating space, and allow us to bring our brand to even more young professionals through new channels, O2O services and market launches. Our focus remains in Asian markets and this round also brings us one step closer to our mission of connecting singles in Asia through technology- enabled platforms,”Joseph Phua, CEO and Co-Founder of Paktor in an official press statement.

Paktor’s double blind dating platform was first launched in 2013 and claims to have 15 million users to date. It is expecting to grow its revenue to over 8-figures USD by the end of this year. Last year, Paktor made headlines when it raised a cool US$7.5 million Series B from Majuven, Convergence Ventures, and Vertex Venture Holdings. In March this year, it raised an undisclosed amount from Indonesia media conglomerate MNC Group.

The post Paktor bags US$10M to disrupt online dating in Japan and Korea appeared first on e27.

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