Lisbon-based startup Eight, a video-first dating app, is raising a €3 million seed round to support its expansion across four European markets over the next 24 months.
The company has already raised over €250,000, with half of that amount coming from a venture capital firm and the rest from angel investors, according to EU-Startups. The investors were not identified.
Founded by CEO Miguel Moreira da Cruz and CMO Afonso Simão, Eight is building a dating app centered on live video interaction rather than swiping or extended text conversations.
The platform matches users for live eight-minute video dates and is currently live in Portugal, with expansion planned to the United Kingdom, starting with London, Spain, and another unnamed market.
“Dating apps are broken. People are tired of swiping endlessly and having conversations that go nowhere,” Moreira da Cruz was quoted as saying.
He noted that the company is focused on bringing dating back to “real human connection” through face-to-face interactions.
How the app works
According to the company’s website, people who want to join the app first record a 30-second video, which is reviewed by Eight’s team before approval, to help ensure that users are real.
The platform opens on Wednesdays and Sundays from 8 p.m. to 9 p.m. During that live dating window, users can browse profiles, enter a waiting room after a mutual match, and join an eight-minute video date. Chat is unlocked only if both users express mutual interest after the video date.
The app includes an AI Dating Coach to help users improve their skills in finding and developing romantic relationships. The app is available on iOS and Android and has safety features such as instant report and block tools, privacy controls, and 24/7 support.
Reported traction
Eight reported more than 15,000 registered users with what it described as minimal marketing spend. Its Day 1 retention rate stands at 81%, compared with an industry benchmark of 25% to 35%, while Day 7 retention is 43%, above the 10% to 15% benchmark.
The startup also reported a 42% trial-to-paid conversion rate, an average revenue per user of €13.30, and 43% month-over-month user growth. More than 491 videos have been completed on the platform.
The company said revenue reached €6,000 before monetization was intentionally paused to focus on growth.
“Our retention numbers prove that when you build a product that actually delivers on its promise, people come back,” Moreira da Cruz said, adding that Eight is now ready to bring the experience to the rest of Europe.
Planned use of funds
Eight plans to allocate 31% of the funding to marketing, 26% to product development, 15% to team expansion, 12% to infrastructure, 6% to data, and 10% to a contingency buffer. The company recently incorporated in the UK under the name Eight Dating Ltd.
See also: Portuguese dating app Eight seeks investors for ‘authentic’ video-first connections
Featured image: Eight co-founders Miguel Moreira da Cruz (left) and Afonso Simão (Photo courtesy of Eight)
Portugal Startup News 