'Click n’ collect' Flash Coffee raises US$15mil Series A
By Digital News Asia April 8, 2021
- Funding round led by White Star Capital, investors include DX Ventures
- Funding to be used to expand brand in 10 markets across Asia Pacific
TECH-enabled coffee chain Flash Coffee, backed by Rocket Internet, has announced that it has raised US$15 million in Series A funding.
The funding round is led by White Star Capital, with participation from prominent investors including Delivery Hero-backed DX Ventures, Global Founders Capital, and Conny & Co.
The Series A round brings the total capital raised by Flash Coffee to US$20 million. The new funding will be used to expand the brand in 10 markets across APAC, the company said in a statement.
Flash Coffee works by allowing customers to order from the company’s menu of high-quality drinks via an app and pay for it online. They can then choose to pick up orders from one of the brand’s storefronts, or order for delivery through major platforms in each market.
The company has a newly-launched consumer app that has a streamlined pick-up feature, loyalty programme, personalised promotions and interactive challenges. It also has a dedicated barista app that works to improve the operational efficiency of its stores and enable performance-based incentives for its baristas.
Flash Coffee was launched in January 2020, and now operates 50 locations across Singapore, Thailand, and Indonesia. Flash Coffee has claimed that it is opening three new outlets per week, a pace that will be tripled to 10 store launches per week. The strintgent target is to enable it to open 300 additional stores across the region by end of this year, the startup said.
“Our dream is to have a Flash Coffee every 500 metres in all major Asian cities”, said David Brunier, chief executive officer of Flash Coffee (pic), who was previously Foodpanda's chief marketing officer.
“Strong investor support for our Series A round enables us to harness untapped potential in the region and replicate our success in seven new markets this year: Hong Kong, Taiwan, South Korea, Japan, Malaysia, the Philippines, and Vietnam.”
Brunier also revealed that it is building a regional HQ in Singapore and expand its regional tech hub in Jakarta to 50 people.
The plan is aimed at supporting its vision of fully leveraging technology to improve customer experience, proactively drive growth and significantly increase operational efficiency, he added.
Eric Martineau-Fortin, founder and managing partner at White Star Capital, said: “We are pleased to support Flash Coffee in bringing its experience to millions of consumers across Asia.
“We believe that the brand’s tech-enabled approach will drive its ability to provide high quality coffee and service at excellent value to address an underserved demand for affordable premium coffee in these rapidly expanding Asian markets.”
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