Flash.co, the innovative online shopping platform founded by former Senior VP of Flipkart, Ranjith Boyanapalli, has secured $6.7 million in pre-Series A funding, marking a pivotal moment in its journey to redefine e-commerce for power shoppers.
Led by Blume Ventures and co-led by existing investor PeerCapital, this pre-Series A round propels Flash. co’s total funding to $12.5 million, marking a significant milestone for the startup.
Flash.co has swiftly gained momentum since its April 2023 public launch, attracting substantial investments and consumer adoption. The startup’s unique offering revolves around creating dedicated email IDs for users, transforming the online shopping experience.
These exclusive email IDs enable users to log in and shop seamlessly across various e-commerce platforms, including heavyweights like Flipkart, Amazon, Swiggy, Boat, Ixigo, Licious, Levi’s, Bombay Shaving Company, and many more.
“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,” said Karthik Reddy, co-founder and managing partner of Blume Ventures.
Global Expansion on the Horizon
With over 8 million emails processed and over 1 million orders placed across more than 1,000 brands using Flash.co email IDs, the platform has demonstrated its effectiveness in simplifying online shopping. Users can conveniently import orders from multiple Gmail accounts directly into the Flash.co app, streamlining their shopping experience further.
Ranjith Boyanapalli, CEO and Founder of Flash.co said, “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. A huge thank you to our ever-growing community of power shoppers! We are thrilled to welcome Blume Ventures to Flash. Flash is a category-defining global consumer tech product and would benefit from the expertise of Blume.”
Flash.co has ambitious plans for the future. The startup intends to expand its footprint in India and embark on an international expansion by 2024, aiming to establish a global presence. This move aligns with the growing global relevance of the challenges faced by online shoppers, such as spam, order tracking, and the absence of rewards.
Addressing the Needs of Power Shoppers
Approximately 25 million power shoppers in India contribute to nearly 70 percent of online shopping revenue. These numbers are projected to surge to 65 million by 2030. Power shoppers often grapple with issues like spam, order tracking, and the absence of incentives.
Ankur Pahwa, managing partner of PeerCapital, said our 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,” added Pahwa.
Flash.co addresses these challenges effectively by offering seamless shopping tracking, a spam-free inbox, spend insights, and personalized lifestyle rewards tailored to individual shopping behaviors—this innovative approach positions Flash.co as a game-changer in the e-commerce landscape.
Karthik Reddy, co-founder and managing partner of Blume Ventures, said simplifying an individual’s digital commerce lifecycle is a compelling value proposition.
Strong Backing and Notable Investors
Flash.co has garnered support from prominent venture capital firms, including Global Founders Capital, White Venture Capital, PeerCapital, Emphasis Ventures, Soma Capital, and Zinal Growth. Additionally, notable angel investors such as Binny Bansal, co-founder of Flipkart, Kunal Shah, founder of CRED, and Sujeet Kumar, co-founder of Udaan, have contributed to the startup’s success.
The pre-Series A investment round follows Flash. co’s successful $5.8 million seed round in 2022 and highlights its rapid growth and potential in the market.
Flash. co’s innovative approach to online shopping, coupled with substantial funding and strong investor support, positions the startup for future success. As it sets its sights on international expansion, Flash.co aims to revolutionize the shopping experience for millions of consumers globally.
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