SG: Dating app Paktor gets funding from Indonesia’s MNC Group

Paktor Pte Ltd (Paktor), Singapore-based social dating app, has secured an undisclosed amount of funding from one of Indonesian media conglomerates MNC Media Group, as part of a larger investment round, which it plans to close in the near future. 

The dating app will use the proceeds to push its growth in Indonesia, where it has recorded 2 million registered users in 10 months. Paktor said, the new funding will be used to grow its business in existing markets as well as expansion into new markets in Asia.

The tie-up will also allow Paktor to tap into MNC’s media assets across Indonesia.

Prior to this round, Paktor received $12 million of funding, a company statement said.

Recently MNC Group invested in the $5 million seed funding round for KerjaDulu, an Indonesia-based social networking platform for jobs.

Also Read : Indonesia’s social recruitment platform KerjaDulu closes $5m seed round from MNC Group

David Fernando Audy, Director of MNC Media Group and CEO of Tencent MNC, said, “We’ve followed Paktor’s progress closely since they launched in Indonesia in 2015. We are impressed by the growth they’ve experienced in such a short period of time. MNC is keen to support Paktor’s growth in the region.”

Joseph Phua, CEO and Co-Founder of Paktor, said, “Paktor’s focus on monetization in 2015 paid off handsomely, with app revenue growing over 100 times in the year, and we expect to achieve group revenue in the 8 figure range (US$) in 2016. Take Taiwan for example: We’re just behind Line app as the top grossing app in category, and ahead of all other dating industry players.”

Set up in July 2013, Paktor has over 7 million registered users and 15 million matches a month.

In 2014, Paktor received S$10 million in new funding from venture capitalists. The Series-B funding round was participated by Majuven, Convergence Ventures and Vertex Venture Holdings.

Also Read :  Indonesia’s MNC Group to consolidate pay TV, broadband biz under new holding co

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.