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19-Jun-2020 21:03

Investors are also attracted to the apps' potential in a region where consultants KPMG says 60 per cent of the population is aged below 35, and where incomes are rising.Funding details are scarce, but Vertex Venture, a unit of Singapore investment company Temasek Holdings, participated in two funding rounds worth a total US.5 million for app Paktor, while Peekawoo has raised US0,000 from investors including Kickstart Ventures, a unit of Philippines' Globe Telecom.The company also promoted current head of operations Shn Juay to Chief Operating Officer at Paktor Group.This round was led by Vertex Ventures, a subsidiary of Singapore’s Temasek Holdings."The dating business has never had an issue with making money," said Singapore entrepreneur Joseph Phua, who set up Paktor more than two years ago to cope with his own heartbreak.For many users, the main appeal of these apps is their relative wholesomeness.The funds were reported to be used for expansion into different territories and the introduction of new services under the Paktor group.At this time, the size of the network stood at 1.5 million registered users.

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"Interactions have been comfortable so far: no creep encounters!The apps' moderators remove photos that are considered inappropriate, such as women in bikinis.

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