Paktor, the Singapore-based dating app that is in competition with Tinder in Southeast Asia, has raised $32.5 million in the latest round of funding led jointly by San Francisco-based venture capital firm K2 Global and PT Media Nusantara, an Indonesia-based company.
Founded in July 2013, Paktor has raised $57 million till date, including $22 million in July this year. The app claims to have facilitated 5 billion profile views since inception.
The money raised in the latest round would be used to widen the product portfolio.
"We see a strong shift in user behaviour with the consumption of interactive media entertainment on mobile platforms and this will put the muscle behind Paktor's strong Asian network and mobile expertise to expand into new business lines within social entertainment. This, as we maintain our stronghold in the region as the leading dating company and rich media content sharing network," Joseph Phua, CEO and co-founder of Paktor Group, said in a statement.
K2 Global specialises in growth equity, founder liquidity, early and late-stage venture investments in technology companies, according to its profile.
The firm said Paktor has displayed consistent growth and is poised to grow further.
"The company has shown tremendous traction and growth over the past year to evolve into the dating powerhouse it is today. We're confident that the team has both the passion and experience to propel the company forward to build a leading social entertainment platform in the region," Ozi Amanat, Managing Partner at K2 Global said.
Paktor does not have plans for India and China, though its rival Tinder thinks otherwise.
"We concluded with certainly [that] we don't know [about India and China] and have concluded with certainty that we don't want to tackle uncertainty right now," Techcrunch had quoted Phua as saying in July this year.
Tinder has an average of about 14 million swipes everyday, according to a report in The Outlook.