Matrimony firm Betterhalf has raised Rs 21 crore in pre-series A funding round led by venture capital firms S2 Capital and Quiet Capital. Angel investors like Kunal Shah and Samvit Ramadurgam also participated in the funding round. Betterhalf plans to utilise the fund to boost app engagement, build monetisation features and for product discovery across organic channels, the company said in a statement.
“The closing of this round post Y Combinator Demo Day is a marker of the investors’ confidence on readiness of 10 crore urban Indians for a new age matrimony app and allows us to take the company from Rs 7.2 crore run rate to Rs 36 crore run rate for our next Series A round,” Betterhalf co-founder Pawan Gupta said. Betterhalf had earlier raised around 17 crore in the seed round from Y Combinator, Tribe Capital, Nurture Ventures, Nobroker founder Saurabh Garg and former Google India managing director Shailesh Rao.
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The company targets to touch 10 lakh users by the end of this year. “Currently, the app facilitates over a lakh of matches and a thousand marriages across a user base of 7 lakh urban millennials. With extensive business plans, the app is witnessing around Rs 55 lakh to 60 lakh in monthly revenue and is growing at 30 per cent every month,” the statement said.