China dating app Tantan raises $32m Series C
Tantan, a Chinese version of US-based dating app Tinder, has completed a $32 million Series C round led by DST Global, Vision Plus Capital and LB Investment.
Existing investors including DCM Ventures, Bertelsmann Asia Investments (BAI), KPCB and GX Capital also participated.
Launched in 2014, Tantan provides matching services through its online social platform. When browsing other people's profiles, a user can swipe right to like a particular profile, and if this is reciprocated a match is made and they can chat or have voice calls via Tantan's in-app messaging tool.
The company claims to have mpre than 13 million registered users, of whom about 2.5 million are daily active users. It previously raised a Series A round from BAI and Vision Plus Capital in January of last year. DCM, KPCB, GX Capital and LB Investment participated in a Series B round.
The new funding will be used to strengthen the company's team and operations, improve product offerings, and consolidate its market leading position. Tantan is also planning to monetize its products by launching paid services.
China Renaissance acted as the sole financial advisor for the latest round.
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