Paktor Group Secures Massive $32.5m In Latest Funding Round

Southeast Asian mobile dating provider Paktor has just secured a massive $32.5m in funding with its latest round.

The round was co-led by venture capital firm K2Global and media company PT Media Nusantara Citra Tbk, with both existing and new investors also participating in the round.

The money raised will be used to further expand Paktor Group’s portfolio, which includes the Paktor app and GaiGai, as well as to help “jumpstart” its foray into the social entertainment arena.

Ozi Amanat, Managing Partner at K2Global, said: “K2Global is excited to support Paktor Group’s plans to extend their Asian leadership into the social entertainment arena.

“The company has shown tremendous traction and growth over the past year to evolve into the dating powerhouse it is today.

“We’re confident that the team has both the passion and experience to propel the company forward to build the leading social entertainment platform in the region.”

While the specifics of what this “social entertainment” move entails is not clear, CEO & co-founder Joseph Phua has referenced products like House Party & Momo, which has recently seen tremendous success with its live-streaming product strategy.

The news of Paktor’s latest funding comes as the Singapore-based company hits the milestone of 20m users.

And with the introduction of Paktor’s subscription service in late 2015, Paktor Group is now on track to register 22x YoY revenue growth for 2016.

Paktor, which is localised for 14 languages, has also added a set of new features, including loyalty programme Paktor Rewards, which allows users to earn credits by completing tasks such as visiting the app consecutively for seven days, filling their dating profile, and swiping on at least 50 profiles in 24 hours.

The app also added user poll feature Paktor Questions and One-Touch Gifts, which lets singles send one another virtual gifts.

Joseph Phua, CEO and co-founder of Paktor Group, said: “Paktor Group has established itself as the go-to multi-asset platform that serves the needs of singles in the region.

“We see a strong shift in user behaviour within the consumption of interactive media entertainment on mobile platforms and will put the muscle behind Paktor’s strong Asian network and mobile expertise to expand into new business lines within social entertainment, as we maintain our stronghold in region as the leading dating company and rich media content sharing network.”

Paktor’s matchmaking counterpart, GaiGai, has also seen excellent growth and is now the largest premium database for matchmaking singles in the Southeast Asia region.

Using a free and paid membership system, GaiGai offers singles both personalised tailored matchmaking — connecting members with relationship managers — as well as organising social events for singles such as karaoke & dinner, as well as dating and image courses.

And with its latest round, the Singapore dating company has now racked up a very impressive $57.5m in total funding to date.

To find out more about Paktor, please click here.