Flash Raises $6.7M in Pre-Series A Round to Simplify Shopping for Frequent Shoppers

• ByStartupStory     |    September 19, 2023

Flash, a digital identity creator catering to frequent shoppers, has raised $6.7 million in a pre-Series A funding round led by Blume Ventures and featuring participation from existing investor PeerCapital, along with other existing supporters including White Venture Capital and Emphasis Ventures. This investment comes approximately 10 months after the company’s seed round, which attracted notable angel investors.

Flash, founded in April 2022 by former Flipkart executive Ranjith Boyanapalli, previously secured $5.8 million in funding in November of the same year, with co-leadership from Global Founders Capital (GFC), White Venture Capital, and Zinal Growth. Prominent figures such as Binny Bansal, Kunal Shah, Sujeet Kumar, and Lalit Keshre also backed the company.

The primary goal of Flash is to create a digital identity using a single email address, streamlining order processing, communication with sellers, and making rewards programs more convenient for shoppers. It aims to engage with 25 million frequent shoppers who contribute nearly 70% of e-commerce revenue.

Additionally, the platform generates a comprehensive shopping report, highlighting the categories and platforms where users have spent the most money and the items they’ve ordered most frequently. The company also has plans to expand into the US and European markets.

While Flash does not have direct competitors, it partially competes with reward management platforms like CashKaro and Nearbuy in terms of the reward management aspect.

As of now, Flash claims to have created 400,000 Flash.co IDs and processed 5 million emails. However, Sensor Tower data indicates that it has garnered fewer than 500,000 app downloads on Android and the App Store (iOS) since March 2023.

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