Couple app Between raises US$3M to continue enhancing relationships

VCNC, the company behind popular Korean couple app Between, has raised funding from four investors.

Between is a couple app created by South Korean company VCNC which has just raised KRW3 billion (around US$3 million) from four investors. The investors involved and investment breakdown:

• Stonebridge Capital (KRW1 billion, around US$1 million)
• KTB Network  (KRW1 billion, around US$1 million)
• Capstone Partners (KRW500 million, around US$500,000)
• Softbank Ventures Korea (KRW500 million, around US$500,000)

Softbank Ventures Korea had earlier invested US$1 million in VCNC as a seed investment.

In an exclusive interview with beSUCCESS, CEO Jaewook Park mentioned that the new funding round will used to help their overseas expansion. He also mentioned that they will be looking to hired more experienced senior developers to VCNC as he is looking at the company’s developments in the long-term. Jaewook also shared that the four investors participated in the latest funding round because they have confidence in the VCNC team and their goals for this year and the next.

VCNC currently has over 2.3 million downloads with over 60 percent of the downloads coming from Korea. The team just released their latest Between update yesterday which included a sticker store, allowing them to monetize from in-app purchases.