Flash.co raises $6.7 mn in Pre-Series A round led by Blume Ventures

Flash.co, founded by former Flipkart senior vice president Ranjith Boyanapalli, said it has raised $6.7 million in a Pre-Series A investment round. The round was led by Blume Ventures and co-led by existing investor PeerCapital, with participation from other existing backers including White Venture Capital and Emphasis Ventures. Flash.co is transforming the shopping experience for shoppers worldwide by offering features such as shopping tracking, spend analytics, and personalised lifestyle rewards tailored to individual shopping behaviours.

This latest funding round takes Flash.co’s total funding to $12.5 million, empowering them to further establish Flash.co as the premier lifestyle app for power shoppers. This includes offering the world’s first email crafted exclusively for shopping.

Flash.co has successfully secured this new funding round within just five months of its app launch in April 2023, a testament to its strong consumer adoption. To date, the Flash.co email platform has processed over 8 million emails, with users having already placed over 1 million orders spanning more than 1,000 brands using their Flash.co email IDs. Additionally, users enjoy the convenience of importing orders from multiple Gmail accounts directly into the Flash.co app. Flash.co is poised to accelerate its footprint in India, channelling fresh funds towards strategic hires and infrastructure enhancements. The company is also embarking on an ambitious international expansion, with plans to establish a global presence by 2024.

“From processing our very first email to crossing the 8 million mark in five months is a testament to the support of our users,” said Ranjith Boyanapalli, chief executive officer and founder of Flash.co. “We look forward to our next phase of growth.”

Ankur Pahwa, managing partner of PeerCapital, said the firm is part of Flash.co’s journey to empower discerning shoppers by simplifying the shopping experience through its core feature of consolidating all orders on a single email platform. “This creates endless possibilities for consumers and brands in enriching shopping experiences,” said Pahwa.

In India alone, there are 25 million power shoppers who contribute to nearly 70 per cent of online shopping revenue and are estimated to further grow to 65 million by 2030. Power shoppers face challenges around spam, order tracking, and lack of rewards; Flash.co solves these by offering seamless shopping tracking, a spam-free inbox, spend insights, and personalised lifestyle rewards tailored to individual shopping behaviours. Given the global relevance of these challenges, Flash.co intends to launch and scale internationally in the coming year.

Karthik Reddy, co-founder and managing partner of Blume Ventures, said the idea of simplifying an individual’s digital commerce lifecycle is a compelling value proposition.

The company is backed by venture capital firms such as Global Founders Capital, White Venture Capital, PeerCapital, Emphasis Ventures, Soma Capital and Zinal Growth, as well as noted angel investors including Binny Bansal (co-founder of Flipkart), Kunal Shah (founder of Cred) and Sujeet Kumar (co-founder of Udaan). Flash.co successfully secured a $5.8 million seed round in 2022 and has since forged partnerships with over 70 renowned brands across various categories.