Dating service Flirtu raised €200K from Latvian Expansion Capital AIFP
Founded in Riga in 2022 by Andrei Volkov and Dmitry Placko, Flirtu is a dating service, which allows one to find a friend or a couple. The communication happens through a chat on Telegram messenger. The user has to give information about himself, like age and interests, upload a photo/selfie, and then wait until the service selects a match for him. Once the match is approved by both users, it is possible to start chatting. The service does not share the exact users' location and their personal information, such as their Telegram profile.
Flirtu has more than 3.5M users and operates in Western Europe, Asia, and Latin America. Currently, it supports English, Spanish, French, Italian, Russian, Indian and Uzbek languages. The startup will use the investment to continue developing the application and expand into new markets.
One of the earlier investors of Flirtu is a business angel Eduards Zolotuhins, a managing partner and CEO of 3ED Ventures, a Latvian syndicate of business angels and startup founders.
Expansion Capital AIFP fund invests from €150K up to €2,7M in Latvian companies with equity stakes 10% - 49%. Expansion Capital has launched two funds - INEC1 AIF and INEC2 AIF. The size of INEC2 AIF is €6,5M, which invests from €150K to €250K in seed stage companies/projects. The partners of the investment firm are Andris Keziks and Zigmārs Reklaitis. Expansion Capital AIFP cooperates with Latvian public financial institution Altum.
