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Online dating app TrulyMadly raises Rs 35 Cr; to build social network

Cherry Popped! TrulyMadly, an online dating app has raised INR 35 crores from Helion Venture Partners and Kae Capital. The company told Medianama that the funds will be used to build a social network for singles in India, invest in developing original content and invest heavily in bolstering their product and tech team. They added that they plan to grow to 5 million users by next year. Currently, TrulyMadly claims to have 200,000 users out of which 60% are active every month. They’ll be working on features like “social endorsements” to build a user’s “trust score” (explained below). They’re also planning to introduce an “ask a friend” feature for women to get feedback from friends on their matches. A little over 7 months old, TrulyMadly was founded by Sachin Bhatia (co-founder MakeMyTrip.com), Hitesh Dhingra (founder, Letsbuy) and Rahul Kumar (ex-AVP, Product, MakeMyTrip.com). TrulyMadly lets users discover each other via shared interests and profiles. The company claims that it promises safe online dating for women. The psychology of dating Users can login through Facebook, LinkedIn or create an account through email, select 5 hashtags to describe themselves and take personality quizzes after which they get verified. Psychometric profiling is one of the methods which TrulyMadly uses to match its users. A “trust score” (proprietary tool) is assigned to all users when they sign up. This profile verification system does not activate unless the user reaches at least a 33% score. The trust score is boosted by adding copies of users’ PAN…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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