SUMMARY
- Zee Akaash News to invest ₹3.75 Cr in Fluttr via equity shares and convertible warrants.
- Fluttr, India’s first regional language dating app, supports Bengali, Hindi, and English, targeting Tier-II and III cities.
- Fluttr’s turnover surged to ₹2.5 Cr in FY24, reflecting its rapid growth trajectory.
Dating platform Fluttr is set to raise ₹3.75 crore in a strategic funding round led by Zee Akaash News, a subsidiary of the major media group. This investment aligns with Fluttr’s growth plans and highlights the media company’s interest in expanding its digital footprint.
Zee Media announced in a filing with the BSE on Thursday, October 10, that it has inked a deal to invest the funds by purchasing equity shares and convertible warrants from Flutrr. It stated, “We wish to inform you that the company’s wholly-owned subsidiary viz. Zee Akaash News has, after obtaining requisite approvals, entered into an agreement dated October 10, 2024, for making an investment aggregating to ₹3.75 crore.
According to the document, Zee Aakash News would pay ₹22,391 for one equity share and ₹3.75 crore for five convertible warrants. The massive media company anticipates that the deal will close by December 31, 2024.
Kaushik Banerjee and Anirban Banerjee-led Flutrr is the first regional language dating app in India and lets users converse in any language they want. The 2021 startup allows for communication in Bengali, Hindi, and English, the software is mostly aimed at users in Tier-III and Tier-II cities. The platform intends to soon add eight more Indian languages to its repertoire, including four South Indian languages, to compete with the industry titans.
In addition, the startup says it uses numerological and astrological matching algorithms. It asserts that it has over 9 lakh app downloads and over 4.5 lakh weekly active users.
Fluttr’s turnover increased to ₹2.5 crore in the financial year 2023–24 (FY24) from ₹99 Lakhs in FY23 and ₹17 Lakhs in FY22, according to Zee Media’s BSE filings.
