India, November 30, 2022: With the mission to revolutionize the online shopping space globally, Flash, (Flash.co) announced raising $5.8 Million in a Seed round led by global funds like Global Founders Capital (GFC), White Venture Capital (a fund by Jitendra Gupta & Amrish Rau), Zinal Growth, Soma Capital, Emphasis Ventures, Peer Capital, and a host of India’s top angel investors including Binny Bansal – Ex-Co-founder, Flipkart, Kunal Shah – Founder, CRED, Arpan Sheth – Senior Partner, Bain & co, Sujeet Kumar – Co-Founder, Udaan, Nikhil Srivastava – PAG Venture, Lalit Keshre – CEO, Groww, Rishi Vasudev – Co-Founder, GOAT Brand Labs, and others
Founded by former Flipkart Senior Vice President, Ranjith Boyanapalli, Flash aims to elevate the shopping experience of online power shoppers across the world. Launching in India initially, Flash aims to cater to the top 25 million power shoppers, who contribute to nearly 70% of the online shopping revenue and are estimated to further grow to 65mn by 2030. Flash looks to address the potential challenges for these power shoppers around post-order experience, lack of rewards, and cluttered communication – which are expected to magnify with a further increase in their span of online shopping across brands & frequency. Flash will be introducing a first-of-its-kind shopping identity – enabling an end-to-end ecosystem that empowers consumers to be in control of their shopping, and communication and unlock personalized experiences.
Commenting on the investment, Roel Janssen, Partner, Global Founders Capital said, “We are excited to back a founder like Ranjith who has extensive experience building great consumer products. Power shoppers are an important consumer segment and their challenges are bound to magnify with increasing eCommerce penetration in India and globally. We are impressed with the Flash team and product, and are confident that they will make a significant impact over the coming years.”
Commenting on the funding, Ranjith Boyanapalli, Founder & CEO of Flash said, “With Flash, we aim to craft a digital shopping identity for Power Shoppers which will enable delightful shopping experiences. The unique digital shopping identity will allow online shoppers to access personalized experiences, rewards, and clutter-free communications. Our AI/ML-led platform will be backed by best-in-class encryption to protect the privacy and give control back to the consumer. We are aiming to onboard two million users in our first year. With an elite guild of VC Funds and Angel investors on board, who have put their trust in us and supported us with their experience, we hope that Flash can undoubtedly change the way we shop”
Flash will be looking to direct the corpus toward product development, hiring, and global expansion.