Flash, an e-commerce start-up founded by former Flipkart executive Ranjith Boyanapalli, has raised $6.7 million in a funding round led by Blume Ventures and existing investor PeerCapital.
Other existing investors, including White Venture Capital and Emphasis Ventures, also participated in the round.
Flash aims to build unified digital identities for frequent shoppers — also called power shoppers. The start-up aims to use the capital for strategic hires and infrastructure enhancements, and is also eyeing an international expansion by 2024.
The fundraise comes within five months of the launch of the app in April. Last November, the start-up raised $5.8 million from Global Founders’ Capital (GFC), White Venture Capital, Zinal Growth, Soma Capital, Emphasis Ventures and Peer Capital.
This latest injection of capital propels Flash.co’s total funding to $12.5 million.
Flash aims to cater to the top 25 million ‘power shoppers’ who account for nearly 70 per cent of the country’s online shopping revenue, and are estimated to grow to 65 million by 2030.
“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,” said Boyanapalli, who serves as chief executive.
The start-up claims to have processed over 8 million e-mails, with users placing over 1 million orders spanning 1,000+ brands using their Flash email IDs.