Flash.co has raised $5.8 million in its seed round, which was led by Global Founders Capital (GFC), White Ventures Capital, Zinal Growth, Soma Capital, Emphasis Ventures, and Peer Capital, besides angel investors such as Binny Bansal, former 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, among others. According to the company, the corpus will be directed towards Flash’s product development, hiring, and global expansion.
Power shoppers are an important consumer segment and their challenges are bound to magnify with increasing e-commerce penetration in India and globally, Roel Janssen, partner, Global Founders Capital, said. “We are confident that Flash will make a significant impact over the coming years,” he added.
The company was founded by Ranjith Boyanapalli, former senior vice president, Flipkart. According to the company, it looks to address the potential challenges for these power shoppers around post-order experience, lack of rewards, and cluttered communications, which are expected to magnify with a further increase in their span of online shopping across brands and frequency, it claimed. With Flash, we aim to craft a digital shopping identity for power shoppers which will enable delightful shopping experiences
Flash aims to craft a digital shopping identity for power shoppers which will enable delightful shopping experiences, Ranjith Boyanapalli, founder and CEO, Flash, said. “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,” he added.