Online shopping platform Flash has secured $5.8 million in a seed round led by global funds like Global Founders Capital, White Venture Capital, Zinal Growth, Soma Capital, Emphasis Ventures, Peer Capital, and a host of India’s angel investors including Binny Bansal, Kunal Shah, Arpan Seth, Sujeet Kumar, Nikhil Srivastava, Lalit Keshre, Rishi Vasudev and others.
The raised funds will be utilised towards product development, hiring, and global expansion, Flash said in a press release.
Founded by former Flipkart Senior Vice President, Ranjith Boyanapalli, Flash provides shopping identity – building an end-to-end ecosystem that consumers can own and experience the joy of shopping with. Flash intends to assist consumers through highly rewarding shopping and convenient post-order experience, tackling the issues of cluttered promotional email content.
Flash aims to cater to the top 25 million power shoppers, who contribute to nearly 70% of the online shopping revenue and are estimated to further grow to 65 million by 2030.
According to the company, it looks to address the potential challenges for these power shoppers around post-order experience, lack of rewards, and cluttered communication which are expected to magnify with a further increase in their span of online shopping across brands and frequency.