Partech sells stake in Once Dating to trade

Proceeds are to comprise both cash and Dating Group shares, Once Dating said in a statement.

CEO Clémentine Lalande will continue to lead the company following the transaction.

Previous funding
Partech first invested in Once Dating in 2015.

The GP invested a further €5m in the company in June 2016 via its first Partech Entrepreneur vehicle, which held a final close in October 2013 on €30m. The fund invested in early-stage companies based in Europe, but with a preference for those based in France, as well as in Silicon Valley. The fund deployed tickets of €2-5m.

Company
Founded in 2014 and headquartered in Feusisberg, Once Dating is a dating app that uses an AI-based algorithm to connect users with one other user for 24 hours at a time, focusing on a "slow dating" model. The company has 10 million users and its core markets are Germany, France and Italy; it had one million users in 2016. The company employs fewer than 50 staff, according to LinkedIn. It reported revenues of €12m in 2018.

People
Partech – Romain Lavault (general partner).
Once Dating – Clémentine Lalande (CEO).
Dating Group – Bill Alena (chief investment officer).

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