/PRNewswire/ Clover Inc. ("Clover" or the "Company"), a highly rated live streaming company focused on Gen Z and Millennial audiences and creators, and.
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Dating App Clover Closes $12 Million Growth Capital Financing
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TORONTO, Feb. 3, 2021 /PRNewswire/ - Clover, the top-rated dating app, announced a growth capital financing of $12 million consisting of growth debt from Espresso Capital, and a structured equity investment from an existing investor. Based in Toronto, Espresso provides innovative venture debt and growth financing solutions to leading companies in technology, healthcare, internet & digital media, and other high-growth verticals.
Clover Dating App new Live streaming feature (CNW Group/Clover Inc.)
The company plans to use the new funds to accelerate its rapid growth. In fiscal 2020, Clover generated $19 million in revenue from 900,000 paid subscriptions, a 67 percent CAGR over the past three years. Clover s simplicity and versatility have attracted 9 million users in the highly desirable Gen Z (50%) and millennial (42%) demographics. Ninety percent of the app s u