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It also has expanded its geographies beyond an initial focus on Southeast Asia’s six largest countries: Singapore, Indonesia, Philippines, Malaysia, Thailand and Vietnam.The move into South Korea and Japan will be aided by YJ Capital, which maintains strong links with Yahoo Japan — the joint entity from Soft Bank and Yahoo which is the country’s largest web portal and media company and worth upwards of .5 billion. It hired two former executives at IAC, the firm that owns Match.com, Tinder and others, to oversee its international expansion outside of Asia.YJ Capital — the corporate venture firm belonging to Yahoo Capital — led the round, which included participation from fellow new investors Global Grand Leisure, Golden Equator Capital and Sebrina Holdings, as well as existing backers Vertex Ventures (which belongs to Singapore sovereign wealth fund Temasek) MNC Media Group, Majuven and Convergence Ventures.Paktor has now raised more than million to date, including a .4 million Series B round one year ago, which it has used to expand beyond its initial, Tinder-like dating app to cover offline events and services, such as group travel, speed dating and more.This raised total funding to more than US million and Paktor said its network had five million registered users and 12 million matches a month.The startup secured another US million in a venture round with its sights set on expansion in Japan and South Korea.So far, Paktor acquired South America-based Kickoff for an undisclosed sum in May.Joseph Phua, Paktor CEO and co-founder who started the company in 2013 with two friends, said that Paktor is close to closing two further acquisitions — one in Europe and another in Asia; he isn’t saying more than that, for now — while it has partnered with media companies in other countries, which essentially take its backend tech and provide a visible brand and distribution platform to extend Paktor’s reach into other markets.
In December the same year, the company announced that it has agreed to buy a controlling stake in Taiwanese start-up 17 Media.This round was led by Vertex Ventures, a subsidiary of Singapore’s Temasek Holdings.The funds were reported to be used for expansion into different territories and the introduction of new services under the Paktor group.[it’s] a strategic round to help us,” Phua told me in a phone interview.“We’re thinking that a year or two years down the road, investors want to know your long-term plan.” “Our next immediate step to bulk up on operational assets and [push the] revenue.
Founded in Singapore, the app was launched in June 2013.., In late 2013, Paktor launched a subsidiary called Gai Gai, an offline dating service that focuses on matching-making and dating events.