Tech-enabled coffee chain to expand in the Philippines, six other markets this year
April 15, 2021 | 5:12 pm
Flash Coffee, a Singapore-based, tech-enabled coffee chain, announced that it raised $15 million in Series A funding in a round led by White Star Capital, with participation from investors including Delivery Hero-backed DX Ventures, Global Founders Capital, and Conny & Co.
The Series A round sets the total capital raised to $20 million, and will be used to expand the brand in 10 markets across the Asia Pacific this year, including seven new markets: Hong Kong, Taiwan, South Korea, Japan, Malaysia, the Philippines, and Vietnam.
The company aims to digitize the offline-dominated coffee industry with a consumer app that has a streamlined pick-up feature, loyalty program, personalized promotions, and interactive challenges. It also has a barista app that improves operational store efficiency and enables performance-based incentives for its baristas.
Coffee chain Flash Coffee raises $20 07m in Series A funding
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Flash Coffee Eyes Indonesia, Asia Expansion Following $15m Series A Funding BY :JAKARTA GLOBE APRIL 08, 2021
Jakarta. Flash Coffee, a coffee chain backed by Rocket Internet, plans to add more outlets in Indonesia and expand in more countries in Asia after securing $15 million in Series A funding led by White Star Capital, the company said in a statement on Wednesday.
Flash Coffee is the latest coffee chain to compete in Indonesia s burgeoning beverage market that includes homegrown rivals like Kopi Kenangan backed by rapper Jay-Z and tennis star Serena Williams Kopi Kulo, and Janji Jiwa.
The company s latest funding round, which also saw participation from Delivery Hero-backed DX Ventures, Global Founders Capital, and Conny & Co, pushed the total capital raised by Flash Coffee to $20 million.
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April 07, 2021
SINGAPORE, April 7, 2021 /PRNewswire/
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.
Image credit: Flash Coffee
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.
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