Social app Paktor picks up $10m to expand into Japan, Korea

Photo credit: Paris.

Singaporean startup Paktor raised US$10 million to fuel expansion into Japan and Korea. It’s already active in markets including Indonesia, Malaysia, Thailand, Vietnam, and Taiwan.

Launched in 2013 as a dating app, Paktor has evolved into a service connecting people beyond romantic interests. Classic online matchmaking is still part of the package, but the app also offers things like interest-related group chats. The particular strength it’s banking on – and the one it hopes will help it monetize – is getting people to gather offline, for example at events for singles, workshops, or personal consulting sessions.

Among the startup’s new investors in this round is YJ Capital, the Corporate Venture Capital of Yahoo Japan.

Previous investors, including Vertex Asia Fund, MNC, Majuven, and Convergence Ventures, got on board again in this round. Paktor raised US$7.35 million exactly one year ago. Its total disclosed funding now amounts to more than US$20 million.

Last year Paktor counted 5 million registered users and 12 million matches a month. Today, it says this figure has grown to 15 million users, though it did not mention how many of those regularly use the app.

Singapore-based Global Grand Leisure, Golden Equator Capital, and Sebrina Holdings Venture Capital  also participated in Paktor’s most recent funding round.