Flash, a startup founded in 2022 by former Flipkart Senior Vice President Ranjith Boyanapalli, has secured $6.7 million in a Pre-Series A funding round. Led by Blume Ventures and with participation from existing investors PeerCapital, White Venture Capital, and Emphasis Ventures, the funding aims to boost Flash’s mission of enhancing the post-shopping experience for frequent shoppers.
Empowering Power Shoppers:
Flash, catering to power shoppers, launched its app in April 2023. The startup has already processed over 8 million emails and facilitated more than 1 million orders across 1,000+ brands using Flash.co email IDs. The innovative platform allows users to import orders from multiple Gmail accounts into the Flash.co app, streamlining the online shopping process and eliminating the need to sift through promotional emails.
Rewarding Shopping Habits:
Flash incentivizes users to shop more by offering segment-specific and brand-specific ‘streaks’ that enable them to earn cashback. This approach not only simplifies the shopping experience but also encourages customer loyalty and engagement.
Expanding in a Growing Market:
India currently boasts 25 million power shoppers, responsible for a substantial 70% of online shopping revenue. Flash anticipates this number to grow to 65 million by 2030. With a focus on solving issues such as spam, order tracking difficulties, and a lack of rewards, Flash aims to cater to the unique preferences of power shoppers.
Future Plans:
The Bengaluru-based startup intends to utilize the fresh funds for strategic hires and infrastructure enhancements, accelerating its presence in India and expanding internationally by early 2024. Flash previously raised $5.8 million in a seed funding round and has now accumulated a total of $12.5 million in funding. Notable investors in Flash include Global Founders Capital, Soma Capital, Zinal Growth, and prominent individuals like Binny Bansal, Kunal Shah, and Sujeet Kumar.
A Growing E-commerce Landscape:
India’s e-commerce ecosystem is on a remarkable growth trajectory, with projections suggesting a user base of 350 million by 2025 and a staggering 500 million users by 2030, driven by a robust compound annual growth rate (CAGR) of 23%.
In conclusion, Flash’s latest funding round positions it to play a significant role in serving the evolving needs of power shoppers in India’s dynamic e-commerce landscape.