Our friends over at Paktor has some amazing news this morning: they recently managed to raise an additional S$10 million in investment from prominent investors such as Majuven, Convergence Ventures, and Vertex Venture Holdings.
According to the press release, the latest investment comes on the back of phenomenal growth of the Paktor brand. Since Paktor closed its Series A round 6 months ago, it has expanded into new markets including Indonesia, doubled its user base, and shown over 100% growth on multiple metrics, including profile reviews and matched users.
Joseph Phua, CEO and co-founder of Paktor, said, “The funds raised will be invaluable in helping us maintain our aggressive growth. More importantly we’ve forged partnerships with strong players with the close of this round. With the experience and support from our investors, we are even more confident that we are en route to becoming one of the largest global social dating brands.”
Localisation Remains Key
Paktor is often referred to as the Tinder of Asia, since it allows you to scan the profiles of other users and, for each one, either swipe right (I like what I see) or left (show me the next profile). When you swipe right, the other user is notified and has the opportunity to respond, allowing the both of you to chat with one another.
Over the past few months, Paktor has introduced a few new features which are specific to the Asian culture, helping it grow its user base to more than five million users now. These include a fun and interactive gifting mechanism that allows users to interact with other users, and break the ice before conversations even begin. Collectively, these features have proven successful at grabbing the attention of users and have increased the ease of starting conversations on the app.
Through research and a deep understanding of the culture in Asia, Paktor also identified that Asians prefer to first meet fellow users in groups, rather than a more intimate one-on-one session. This led to the introduction of group chats. Group chats are formed based on common interests (indicated via interest cards) and enable users to comfortably connect with like-minded individuals, forming the foundation for genuine connections to develop.
Here are some numbers from Paktor:
- Average monthly profile views: 500 million
- Monthly successful matches: 12 million
- Average user monthly time spent: 13 hours
- Average daily returns: 6
Are you one of the 12 million successfully matched users?
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