LemonSwan Raises Seven-Figure Investment in Latest Funding Round
German online dating service LemonSwan has raised an undisclosed seven-figure amount in its latest funding round. This latest investment should help the Hamburg-based platform achieve profitability by the end of 2021 and expand into new markets.
The platform was launched in 2018 by Paul Uhlig and Arne Kahlke, the founder of ElitePartner and former CEO of Parship.
Sabine Schöler, LemonSwan CEO, said in a statement translated from German: “The fresh capital of our shareholders is a sign of trust. With this we will continue to pursue our investment mission. The profitability enables us to grow and expand internationally.”
Schöler took over from Kahlke, who now just serves as an advisor, as CEO in January this year.
LemonSwan is designed to be a competitor to the established brands in continental Europe. It’s promoted as a space for singles with “serious intentions” and claims it has so far turned away approximately 25% of hopeful signups.
In order to pass the initial screening, each person must be looking for a long-term relationship, have completed at least 70% of their profile and have three or more recognisable images.
LemonSwan currently has just over 250,000 registered members, approximately 52% of whom identify as female.
Read more here.