News Reader

Paktor Goes Beyond Dating As New US$32.5m Funds Fuels Dive Into Social Entertainment

Singaporean startup Paktor has been taking the region’s mobile dating scene by storm since its inception.

Even now, it continues to attract investors to their services as they seek more ways to expand their reach beyond just getting two people together.

Paktor Oversubscribed Funding Round Of US$32.5 Million

Image Credits: Paktor
Image Credit: Paktor

And today, Paktor has more big news to share.

Co-led by K2Global and PT Media Nusantara Citra Tbk. (‘MNC Media Group’), along with other existing and new investors, Paktor has managed to raise some US$32.5 million in funding.

While their previous round of funding in July went towards the expansion of their services into Japan and Korea, this new round will see the funds go into expanding their product portfolio

And it all starts with their foray into ‘social entertainment’.

CEO Joseph Phua / Image Credits: Paktor
CEO Joseph Phua / Image Credit: Paktor

CEO Joseph Phua describes Paktor as the go-to multi-asset platform to serve the needs of singles in Southeast Asia.

Seeing how there is a strong shift of consumer behaviour towards consumption of mobile interactive media entertainment, the dive into social entertainment was a logical next step.

As one of Asia’s leading dating and media content-sharing network, they’re in the perfect position to leverage on their expertise in the mobile space to go into social entertainment.

The new financing raises Paktor’s total capital to $57.5 million, and the group is expecting to see growth go beyond 22 times of 2015’s.

Their Stats As Of Q3 2016

Image Credits: Paktor
Image Credit: Paktor

Here’s the big one – they’ve just hit the 20 million registered users milestone, and the Paktor app itself is now available in 14 different languages, localised for the different countries they cover.

And as previously mentioned, they are on track to see a 22 times year on year growth.

This surge in app revenue came with the introduction of their premium subscription services, first introduced near end of 2015.

In addition, to keep up with the changing needs of their users, Paktor has implemented several new features to better drive user engagement and improve rates of matches.

Image Credits: Paktor
Image Credits: Paktor

If you’ve updated your Paktor app recently, you will have noticed the slew of new features such as

  1. Paktor Rewards: where you can get credits for using the app daily
  2. Paktor Questions; a simple questionnaire for your profile visitors, and
  3. One-Touch Gifts; where Paktor streamlines the virtual gifting process when you indicate your interest in someone.

Reactions have been positive to the changes, with the app seeing a 100% improvement to completed profile ratings. Meanwhile, app ratings in the respective app stores’ have gone up to 4.5 stars.

Image Credits: Paktor
Image Credit: Paktor

GaiGai, Paktor’s offline extension, has also experienced tremendous growth till date. Currently, it boasts the largest premium matchmaking singles database in the region, and has plans for the service to enter new markets within Asia.

Paktor’s continued growth serves to prove that singles in Singapore, and across the region, are more than willing to pay for new ways to meet their matches.

We have reached out to CEO Joseph Phua and the Paktor team for more information on their venture into social entertainment, as well as the company’s future plans. So stay tuned for an exciting follow up in Singapore’s dating future!

 

Subscribe to Vulcan Post Newsletter

Stay updated with our weekly curated news and updates.