Ecommerce enabler startup Flash raised $5.8 Mmillion in seed led by Global Founders Capital (GFC) where White Venture Capital, Zinal Growth, Soma Capital, Emphasis Ventures, Peer Capital and angel investors including Flipkart’s founder Binny Bansal, CRED’s Kunal Shah, Bain & Co’s Arpan Sheth, Udaan’s Sujeet Kumar, PAG Venture’s Nikhil Srivastava, Groww’s Lalit Keshre and GOAT’s Rishi Vasudev, among others have also participated.
The new startup, which will first launch in India, aims to cater to the top 25 million ‘power shoppers,’ who account for nearly 70% of the country’s online shopping revenue and are expected to increase to 65 million by 2030. Flash will introduce a unified digital identity that can be used across platforms to address potential challenges for these power shoppers such as post-order experience, lack of rewards, and cluttered communication. The new funds will be used for product development, hiring, and global expansion, according to the company.
