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 $5 million seed funding round for KerjaDulu, an Indonesia-based social networking platform for jobs.
David Fernando Audy, Director of MNC Media Group and CEO of Tencent MNC, said, “We’ve followed Paktor’s progress closely since they launched in Indonesia in 2015. We are impressed by the growth they’ve experienced in such a short period of time. MNC is keen to support Paktor’s growth in the region.”
Joseph Phua, CEO and Co-Founder of Paktor, said, “Paktor’s focus on monetization in 2015 paid off handsomely, with app revenue growing over 100 times in the year, and we expect to achieve group revenue in the 8 figure range (US$) 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.