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.
The new funding will be used to expand the brand in 10 markets across APAC.
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.
Currently
Flash Coffee is opening three new outlets per week, an already ambitious pace
that will be tripled to 10 store launches per week in order to open 300
additional stores across the region by end of this year.
CEO
David Brunier and COO & CFO Sebastian Hannecker co-founded the company to
make premium coffee accessible to Asia's rising middle class. Brunier's
experience as foodpanda CMO and Hannecker's Bain Consulting pedigree have
informed Flash Coffee's disruptive grab-and-go business model, allowing 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."
Eric
Martineau-Fortin, Founder & Managing Partner at White Star Capital, says,
"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."
Brendon
Blacker, Partner at DX Ventures, says, "DX Ventures is very excited to
support Flash Coffee in its Series A round and significantly increase our
investment in the company. We see enormous potential for the business to
attract a loyal customer following for its premium quality and highly
innovative coffee menu. We look forward to supporting Flash Coffee with its
rapid regional expansion plans."
The
company aims to digitize today's offline-dominated coffee industry with a newly
launched consumer app that boasts a streamlined pick-up feature, sophisticated
loyalty program, personalized 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.
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.
Flash
Coffee's unique coffee menu curated by World Latte Art Champion
ArnonThitiprasert sets it apart from conventional cafes and quick service
brands. All drinks are prepared with premium ingredients and 100% Arabica
coffee beans. Highly addictive signature drinks include Avo Latte, Nutella
Latte and Lychee Espresso Soda, to name a few.