Southeast Asian dating app Paktor reels in $10 mln

Southeast Asian dating app Paktor has secured $10 million in funding. The investors included YJ Capital, Global Grand Leisure, Golden Equator Capital, Sebrina Holdings Venture Capital, Vertex Asia Fund, Majuven and Convergence Ventures.


Singapore, 11 July 2016 – Paktor Pte Ltd (‘Paktor’), Asia’s fastest growing full-service lifestyle and social dating platform announced it has closed US$10 million in its latest funding round. The round was closed by YJ Capital, the Corporate Venture Capital of Yahoo Japan, and other new investors to the company; Global Grand Leisure, Golden Equator Capital and Sebrina Holdings Venture Capital — along with continued support from existing investors — Vertex Asia Fund, PT Media Nusantara Citra Tbk. (‘MNC Media Group’), Majuven, and Convergence Ventures.

Paktor’s latest round of funding will be used to fuel its aggressive expansion plans into North Asia markets — Japan and Korea, further Indonesia’s sales and marketing efforts and meet rapidly increasing demand for its online-to-offline (O2O) services in 7 existing markets — namely Singapore, Malaysia, Indonesia, Vietnam, Thailand, Taiwan and Korea.

Joseph Phua, CEO and Co-Founder of Paktor, said, “This latest funding round will help further grow our leadership in the rapidly growing lifestyle and social dating space, and allow us to bring our brand to even more young professionals through new channels, O2O services and market launches. Our focus remains in Asian markets and this round also brings us one step closer to our mission of connecting singles in Asia through technology- enabled platforms.”

“We see Paktor as a high-potential technology company that’s disrupting the social dating industry,” said Ryu Hirayama, CEO of YJ Capital. “Paktor is poised to further shake up the space as it expands its business into additional categories and new markets.”

Daren Tan, Managing Partner of Golden Equator Capital added “We feel that the belief systems and values of the founders resonate with that of GEC’s, one has to live and breathe a product with an unrivalled passion in order to succeed. Paktor was born out of necessity – Joseph identified a gap in the market and followed his dreams to succeed in the dating arena.”

Since its launch in 2013, Paktor has evolved into a full-service, multi-asset lifestyle platform that delivers the needs of singles between 18- 35 years old looking to socialise. Currently, its full suite of services includes a mobile social dating app, web dating platform and O2O events such as premium one-to-one matchmaking, networking events, curated experiences for singles by partners, coaching workshops and personalised consulting services across all markets. With the expansion of its O2O services and aggressive mobile push, the group is expected to surpass 8-digit USD net revenue in 2016.

About Paktor
Paktor is the largest and most successful mobile dating and social networking brand with presence in the Southeast and North Asia. With 15 million global users, Paktor has become the de facto dating app for Southeast Asians. Founded in July 2013, Paktor aims to bring people together- without the pressure. Leveraging on technology on mobile and digital platforms, Paktor creates the opportunity for users to curate who they talk to and who gets to talk to them – and make connections.

Paktor emphasises anonymity, locality, and usability for our users. The company is the first in the region to provide a comprehensive suite of products across the dating vertical, focused on creating value for singles seeking to connect with others, and, in the process, developing the most diverse and largest network in its markets.
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About YJ Capital
YJ Capital is one of the leading corporate venture capital firms in Japan wholly owned by Yahoo! JAPAN. YJ Capital launched its first fund in 2012 and invested in 19 companies. As of today, six companies have successfully gone public. In January 2015 it launched the second fund and expanded the fund size to 20B JPY. The fund will focus both on Japan and overseas markets including Asia, US, and Israel.

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About Global Grand Leisure
Global Grand Leisure Pte. Ltd. (GGL) is a US$40m investment fund based in Singapore with projects spanning worldwide. Investors in the firm are dedicated to seeking out and delivering unique, highly-curated opportunities. GGL ventures into an array of industries, all with the focus of finding entrepreneurs with experience and previous success in their sectors. Since its inception in 2011, GGL has found success in its disciplined approach to vetting and researching each investment opportunity individually.

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About Golden Equator Capital
Golden Equator Capital (GEC) is a Multi-family Office and Venture Capital firm headquartered in Singapore. Our investment team reviews entire investment lifecycles, taking a hands-on approach working closely with Portfolio Companies to generate strong and sustainable returns for all shareholders. The GEC Technology and Innovation Fund taps into the growth potential of companies with promising new technologies or innovative products in Asia.

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About Sebrina Holdings Venture Capital
Sebrina Holdings is a multi-asset class family office established in Singapore. With a rich history steeped in oil & gas, we have been investing in people, ideas and businesses for more than two decades. Sebrina Holdings Venture Capital team invests in companies with compelling business model and extraordinary management team. We focus in growth and late stage companies that disrupt innovation in the areas of digital media & consumer technology.

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About Vertex Asia Fund
Vertex Venture Holdings is the wholly-owned venture capital subsidiary of Temasek Holdings Pte Ltd. Vertex was established in 1988 and it is today one of the longest operating venture capital firm in Asia. It is headquartered in Singapore with investment professionals spread across offices in Singapore, Beijing, Shanghai, Bangalore, Taipei, and Silicon Valley. Vertex focuses on investing in disruptive opportunities mainly in the Information Technology, Mobile, Digital and Healthcare sectors. With its long history of venture investing experience and coupled with providing the right amount of financial and business support, Vertex has built and nurtured many young start-ups into leaders and champions in its industries. Some of its other recent investments include Reebonz, Clearbridge Biomedics, 91Wireless, IGG, Meilele, Changba, Breadtrip, Yoho, GrabTaxi Reverse Logistics Co., FirstCry, and Patsnap.

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About PT Media Nusantara Citra Tbk. (‘MNC Media Group’)
PT Media Nusantara Citra Tbk. (MNC Media Group) is Indonesia’s largest and most integrated media company. The Company operates a comprehensive media platform that is capable of delivering all inclusive advertising solutions to its clients. MNC owns 4 national Free-To- Air (FTA) television, 23 local pay-TV channels, and supporting businesses including print, radio and online media. MNC is the leading integrated multimedia company in Indonesia, achieving this position by implementing effective strategies that generate value for its shareholders. MNC was established on June 17, 1997 and has been listed on the Indonesia Stock Exchange (IDX) since June 22, 2007 under the ticker code MNCN.

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About Majuven Fund
Majuven is a growth-capital partner and investor for ventures that combine inter-disciplinary inventions into commercially viable product and services. Its investments are in Singapore and Asia, with a focus in Biomedical Sciences, Digital Convergence Technology and Services, Sustainable Technologies (Energy, Water and Food), and Consumer Technology.

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About Convergence Ventures
Convergence Ventures is a technology venture fund focused on investing in Indonesia. Its partners are seasoned entrepreneurs with extensive operating experience in Internet businesses in emerging markets. Convergence Ventures seeks to back exceptional founders by leveraging the fund’s experience, network and resources to empower founders to build long lasting and impactful businesses for Indonesia and the Southeast Asia region.
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