Indonesia MNC, K2 Global give $32.5 million funding to Paktor

JAKARTA (TheInsiderStories) - Indonesia venture capital MNC Media Investment Ltd and San Francisco-based venture capital firm K2 Global jointly give a new funding for Paktor Pte. Ltd., the Singapore-based dating app US$32.5 million, it said in a press statement.

Previously in July, Paktor has secured $10 million in funding from YJ Capital, Global Grand Leisure, Golden Equator Capital, Sebrina Holdings Venture Capital, Vertex Asia Fund, Majuven and Convergence Ventures.

The money raised in the latest round would be used to widen the product portfolio. Founded in July 2013, Paktor has raised $57 million till date claims to have facilitated 5 billion profile views since established.

“We see a strong shift in user behaviour with the consumption of interactive media entertainment on mobile platforms and this will put the muscle behind Paktor’s strong Asian network and mobile expertise to expand into new business lines within social entertainment,” Joseph Phua, CEO and co-founder of Paktor Group, said in a statement.

While, Ozi Amanat, Managing Partner at K2 Global said, the reason why give a funding cause Paktor has shown tremendous traction and growth over the past year to evolve into the dating powerhouse it is today.

Since its launch in 2013, Paktor has evolved into a full-service, multi-asset lifestyle platform that delivers the needs of singles between 18- 35 years old looking to socialise. Currently, its full suite of services includes a mobile social dating app, web dating platform and O2O events such as premium one-to-one matchmaking, networking events, curated experiences for singles by partners, coaching workshops and personalized consulting services across all markets.

With the expansion of its O2O services and aggressive mobile push, the group is expected to surpass 8-digit US dollar net revenue in 2016. (*)