Happn- hyper-localised dating secures $8 million funding boost
Happn, the hyper-localised dating app, today announced its first major funding boost following investments from venture capital firms Alven Capital in France and European venture and growth fund DN Capital, totaling $8 million (approx. £5.12 million). The new capital, as well as the expertise of the investors, will be key in helping happn expand internationally and become a significant player in the growing billion dollar mobile dating market.
The app, which recently reached one million users worldwide after only ten months of connecting singletons, works on proximity and enables users to view the profiles of other members that have been within 250 meters of them in real-time. Users can then signal their interest using hearts – or ‘charms’ for the very keen – and begin conversations if the interest is mutual.
Commenting on the milestone, Didier Rappaport, Founder and CEO of happn said:
“We cross paths with so many people every day, but it can be difficult to seize the moment and make the most of opportunities to meet people offline. So we designed happn with the real world in mind to give our users a chance at love at second sight and keep the digital to a minimal. We’re absolutely delighted with the support we’ve received so far and are looking forward to expanding into new markets in 2015.”
Jeremy Uzan, Partner at Alven Capital said:
“Happn’s proposition really shakes up the traditions of online dating, having already seduced more than a million users. We are delighted to be supporting this growth, made possible by its ambitious and dedicated team.”
Nenad Marovac, Founder and Managing Partner at DN Capital added:
« We are very excited about our latest investment in Happn. The Company provides a unique value proposition to its users, offering them the opportunity to meet people whose path they have crossed in a friendly and playful manner. The initial traction shows that the users really like this. The Company is innovating and differentiating itself in a very attractive space and we believe DN Capital and our network, including some of the co-investors we brought in such as Fabrice Grinda and Paul Gardi, can support the Company to expand to the US and can help provide the resources to build the next big player in the multi-billion dollar mobile dating market.»
Happn is currently available in France, the UK, Germany, Spain, the US and Australia. It counts one million users in total and over 100,000 users in London alone – it’s largest city member base.