Bengaluru, India – In a significant leap towards transforming the shopping landscape, Bengaluru-based e-commerce startup Flash.co has secured $6.7 million in a Pre-Series A investment round led by Blume Ventures, joined by existing investor PeerCapital, along with continued support from White Venture Capital and Emphasis Ventures. With this fresh infusion of capital, Flash.co’s total funding has reached an impressive $12.5 million, propelling the company into a commanding position in lifestyle apps for shoppers.
Flash.co, founded by former Flipkart Senior Vice-President Ranjith Boyanapalli, is setting new standards in the e-commerce industry. This investment comes hot on the heels of their app launch in April 2023, demonstrating the rapid adoption and enthusiasm for their unique approach to shopping. One of the startup’s standout features is the world’s first email platform designed exclusively for shopping.
The Flash.co email platform has already processed over eight million emails and facilitated over one million orders across more than 1000 brands, all through Flash.co email IDs, according to a recent press release. The remarkable speed and scale of their growth underscore the value proposition they bring to consumers in the digital shopping space.
Empowering the Power Shoppers
India boasts approximately 25 million “power shoppers” – frequent online purchasers. These consumers are responsible for nearly 70% of the country’s online shopping revenue, and their ranks are expected to swell to 65 million by 2030. Yet, power shoppers grapple with various challenges such as spam, order tracking hassles, and a dearth of rewards.
Flash.co has stepped up to meet these challenges head-on, offering a seamless shopping tracking experience, a spam-free inbox, valuable spending insights, and personalized lifestyle rewards that align with individual shopping behaviours. By simplifying and unifying the digital commerce lifecycle into a single, comprehensive mailbox, Flash.co is delivering substantial benefits to its customers.
Karthik Reddy, co-founder and managing partner of Blume Ventures, expressed his enthusiasm for the project, stating, “The idea of simplifying an individual’s digital commerce lifecycle by unifying it into a single comprehensive mailbox, thereby deriving substantial benefits for the customer, is a compelling value proposition whose time has come. We partnered with Ranjith, inspired by his bold ambition to develop a world-class product in India that will resonate globally.”
Ankur Pahwa, Managing Partner of PeerCapital, echoed this sentiment, emphasizing the transformative potential of Flash.co: “We are delighted to be doubling down on Flash. His ambitious vision drives our collaboration with Ranjith as Flash stands on the brink of becoming a globally transformative, game-changing company. We are thrilled to be part of Flash’s journey, which creates endless possibilities for consumers and brands in enriching shopping experiences.”
A Star-Studded Support Network
Flash.co’s meteoric rise has also attracted support from prominent global venture capital firms, including Global Founders Capital and Soma Capital, and angel investors of great renown. These include Binny Bansal, Co-founder of Flipkart; Kunal Shah, Founder of CRED; Sujeet Kumar, Co-founder of Udaan; and many others.
This recent Pre-Series A funding round comes from a successful $5.8 million seed round secured in November 2022, further cementing Flash.co’s reputation as a rising star in the e-commerce sector.
Ranjith Boyanapalli, the visionary founder behind Flash.co, expressed his excitement about the journey ahead, stating, “From processing our very first email to crossing the 8 million mark in five months is a testament to the trust and support of our users. We are just starting, and I am very excited to have such high-quality investors in the company. And we look forward to our next phase of growth.”
With its innovative approach and the backing of some of the biggest names in the industry, Flash.co is poised to revolutionize the way we shop online. As it sets its sights on international expansion, the company aims to establish a global presence by 2024, promising to redefine the future of shopping for consumers worldwide.
