Snapask closes USD35m Series B financing round

Snapask has recently announced that it has raised $35 million in Series B funding led by Singapore-based Asia Partners and South Korea’s Intervest. The proceeds will be used to grow its business in Southeast Asia, and expand into new markets such as Vietnam.

Snapask has recently announced that it has raised $35 million in Series B funding led by Singapore-based Asia Partners and South Korea’s Intervest. The proceeds will be used to grow its business in Southeast Asia, and expand into new markets such as Vietnam.

Founded in 2014, Snapask targets 10 to 18-year-old student users, and uses online one-on-one Q&A as the starting point to provide students with live answers for about 20 minutes. The content of the question can be uploaded to and matched by the system to a suitable teacher.

The company has also developed educational contents, which is provided only to students who have membership, hoping to become a comprehensive online tutoring company.

Snapask currently has a presence in markets including Southeast Asia, Hong Kong, Singapore, Japan and South Korea. The company hires local tutoring teams to break through language and localization barriers.

At present, the company’s profit mainly comes from the user’s payment of answer packs or membership fees. The platform currently has 3 million registered users, and the Southeast Asian market has started to profit.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/snapask-closes-usd35m-series-b-financing-round/.

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