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Vietnam’s Fika, AI-powered female-focused dating app raised US $1.6 M

Fika, a Vietnam-based AI-powered social and dating website, has raised US $1.6 million in early investment from VNV Global, a Swedish business.

The financing also includes co-investors Global Founders Capital and Keith Richman’s angel firm 31 Atlantic.

Bryan Pelz (founder of VNG), Brian Ma (from Iterative Capital and founder of new unicorn Divvy Homes), Sebastian Knutsson (founder of Swedish unicorn King), Jussi Salovaara (co-founder of Antler), Madeleine Magnerius (VP at EQT Ventures), and Therese Mannheimer (from Iterative Capital and founder of new unicorn Divvy Homes) were among the global angels who participated (CEO at Grace Health).

Fika plans to use the additional funding to grow its talent pool, improve the app’s AI capabilities, and increase its visibility in Vietnam.

The company also plans to expand into other Asian areas before eventually going worldwide.

Fika is a female-focused dating website that prioritizes user safety and authenticity while creating and sustaining meaningful connections. It was founded in 2020. Instead of skewing towards men, who make up 75% of the user base of traditional dating apps, it focuses on establishing an atmosphere that is better suited to ladies.

Users’ hobbies, likes, and the types of profiles they swipe for and against are all taken into account by the company, which then creates personalised matches, suggestions, and recommendations to encourage long-term relationships.

Furthermore, through its Couple’s Version, it aids people in meeting friends, discovering love, and ultimately strengthening relationships. This version is a private online space where the couple may schedule dates, talk, and get information about their relationships, such as birthdays and anniversaries.

To safeguard its users, Fika mandates that all registrants pass a human verification check. Around 40% of Fika’s users were found to be unsuccessful.

Currently, the platform is focusing on Vietnam, a country with a population of 100 million people and a median age of 32.

So far, the app has received over 600,000 downloads.

“Fika is dedicated to helping find meaningful connections. The only way such truly meaningful connections are made and maintained is by creating an environment that encourages more women, one that makes women feel safe and secure,” said CEO and co-founder Denise Sandquist.

According to Statista, the online dating business in Vietnam is anticipated to generate US$26 million in sales by 2021. During the year 2021-2025, it will grow at a CAGR of 10.13 percent.

The number of Vietnamese online dating users is expected to reach 4.8 million by 2025.

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