[Funding alert] Ranjith Boyanapalli’s Flash.co raises $6.7Mn in Pre-Series A round led by Blume Ventures

Flash.co, founded by Ranjith Boyanapalli, announced the successful conclusion of its $6.7 million Pre-Series A investment round. The round was led by Blume Ventures and co-led by existing investor PeerCapital, with participation from other existing backers including White Venture Capital and Emphasis Ventures.

This latest injection of capital propels Flash.co’s total funding to $12.5 million, empowering them to further establish Flash.co as the premier lifestyle app for power shoppers, that includes offering the world’s first email crafted exclusively for shopping.

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Ranjith Boyanapalli, CEO and Founder, Flash.co, said, “From processing our very first email to crossing the 8 million mark in five months is a testament to the trust and support of our users. A huge thank you to our ever-growing community of power shoppers!

Flash.co has successfully secured this new funding round within just five months of its app launch in April 2023, a testament to its strong consumer adoption. To date, the Flash.co email platform has processed over 8 million emails with users having already placed over 1 million orders spanning 1000+ brands using their Flash.co email IDs.

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Additionally, users enjoy the convenience of importing orders from multiple Gmail accounts directly into the Flash.co app. Flash.co is poised to accelerate its footprint in India, channelling fresh funds towards strategic hires and infrastructure enhancements. The company is also embarking on an ambitious international expansion, with plans to establish a global presence by 2024.

Ankur Pahwa. Managing Partner of PeerCapital shared “We are delighted to be doubling down on Flash and our collaboration with Ranjith is driven by his ambitious vision as Flash stands on the brink of becoming a globally transformative, game-changing company. We are thrilled to be part of Flash’s journey to empower discerning shoppers by simplifying the shopping experience through its core feature of consolidating all orders on a single email platform, which creates endless possibilities for consumers and brands in enriching shopping experiences”.

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In India alone, there are 25 million power shoppers, who contribute to nearly 70% of the online shopping revenue and are estimated to further grow to 65mn by 2030. Power shoppers face challenges around Spam, Order tracking and Lack of rewards, and Flash.co solves by offering a seamless shopping tracking, spam free inbox, spend insights, and personalised lifestyle rewards tailored to individual shopping behaviours. Given the global relevance of these challenges, Flash.co intends to launch & scale internationally in the coming year.

Karthik Reddy, co-founder and managing partner of Blume Ventures, said, “The idea of simplifying an individual’s digital commerce lifecycle by unifying it into a single comprehensive mailbox, thereby deriving substantial benefits for the customer, is a compelling value proposition whose time has come. We partnered with Ranjith, inspired by his bold ambition to develop a world-class product in India that will resonate globally.”

We are thrilled to welcome Blume ventures to Flash. Flash is a category defining global consumer tech product and would benefit from the expertise of Blume. PeerCapital co leading the round is a massive validation of the product, team and the vision. We are just getting started and I am very excited to have such high quality investors in the company and we look forward to our next phase of growth!”

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The company is backed by prominent global venture capital firms such as Global Founders Capital, White Venture Capital, PeerCapital, Emphasis Ventures, Soma Capital, Zinal Growth as well as noted angel investors including Binny Bansal (Co-founder, Flipkart), Kunal Shah (Founder, CRED), Sujeet Kumar (Co-Founder, Udaan) and others. Flash.co successfully secured a $5.8 million seed round in 2022 and has since forged partnerships with over 70 renowned brands across various categories.

About Flash

Flash brings to consumers, @flash.co- first of its kind unique email id, made exclusively for shopping. Conceptualised with the idea of rewarding power shoppers with convenience, Flash intends to solve major pain points through shopping journeys.

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