BusinessWire India
Kolkata (West Bengal) [India], October 13: Flutrr, India's first vernacular dating app, has announced a fundraise of INR 4 Cr in a round led by The Chennai Angels. Among the list of investors are also The Times of India. The round saw participation from individual investors such as Vivek Singh, Adhiraj Sarin, Ramki Ravulpalli, among many other reputed investors.
Flutrr intends to deploy the newly acquired funds to expand its user base to 5 million and achieve a monthly revenue of Rs. 100 lakhs, positioning itself as a highly profitable enterprise.
Small-town India, colloquially known as "Bharat", boasts around 500 million youth who lack English fluency. However, the 'JIO Effect' has brought affordable internet access to even the remotest corners of the nation, leveling the digital playing field. Flutrr is pioneering this change by offering a dating app available in 16 Indian languages, enabling young individuals to connect with potential romantic partners in their native tongues.
"At Flutrr, we want to bring back romance by creating more deep and meaningful connections," said Anirban Banerjee, Flutrr's Co-Founder and CMO.
Beyond this, Flutrr is dedicated to empowering women in small towns to assert their identity and freedom in selecting life partners, underpinned by proprietary technology ensuring safety and privacy in the online dating experience.
The Founding team consists of father and son duo, Kaushik Banerjee and Anirban Banerjee. Commenting on the recent fundraise, Kaushik Banerjee said, "Flutrr transcends the typical dating app. We are dedicated to one profound mission: empowering small-town youth in embracing their freedom to select their romantic partners in the language of their roots. Over time, we've garnered substantial support from luminaries within the corporate sphere, including top-level executives from Fortune 500 companies. The recent funding round led by The Chennai Angels, one of the most prestigious Angel platforms in the country, gives us confidence that we are on the right path."
Flutrr has not only pioneered a unique business model tailored for India's hinterlands, but it has also achieved remarkable milestones in a short span of time. With over 600,000 downloads and an active user base exceeding 400,000, Flutrr is on course to achieve a break-even point by March 2024.
Investment Director from The Chennai Angels, Vikas Chawla said, "The Indian dating ecosystem is evolving in not just India, but also in Bharat. Flutrr recognizes this evolving landscape and is seizing the opportunity by offering a range of features designed to enhance user compatibility, safety, and privacy. We, at The Chennai Angels are excited about the prospect of scaling this journey together with Flutrr."
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