Singapore-based Flash Coffee Raises US$15m Series A Funding to Fuel Asia Expansion and Launch 300 New Outlets
SINGAPORE, April 7, 2021 /PRNewswire/ -- Flash Coffee, a tech-enabled coffee chain backed by Rocket Internet announced that it has raised US$15 million in Series A funding in a round 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 sets the total capital raised by Flash Coffee to US$20 million.
Flash Coffee launched in January 2020, and now operates 50 locations across Singapore, Thailand, and Indonesia. Flash Coffee has enjoyed strong traction in its markets despite the pandemic; with the majority of its stores already achieving profitability and demonstrating the success of its business model.
CEO David Brunier and COO & CFO co-founded the company to make premium coffee accessible to Asia's rising middle class. Flash Coffee's disruptive grab-and-go business model allows for significant cost savings to be passed on to customers.
"Our dream is to have a Flash Coffee every 500 metres in all major Asian cities," says Brunier. "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. We will also build a regional HQ in Singapore and expand our regional tech hub in Jakarta to 50 people to support our vision of fully leveraging technology to improve customer experience, proactively drive growth and significantly increase operational efficiency."
The company aims to digitise today's offline-dominated coffee industry with a newly launched consumer app that boasts a streamlined pick-up feature, sophisticated loyalty programme, personalised promotions and interactive challenges. Its dedicated barista app improves the operational efficiency of its stores and enables performance-based incentives for its baristas, ensuring an unparalleled customer experience.
About Flash Coffee
Flash Coffee is a Singapore-based tech-enabled coffee chain that serves an award-winning menu of high-quality drinks at affordable prices. Customers can use the Flash Coffee app to order and pay online, choosing to pick up orders from one of the brand's iconic yellow storefronts, or order for delivery through major platforms in each market. World Latte Art Champion Arnon Thitiprasert curated its unique menu of drinks prepared with premium ingredients and 100% Arabica coffee beans.
High resolution images downloadable here. Credited to Flash Coffee.
SOURCE Flash Coffee