Flash Coffee, a tech-enabled coffee chain backed by Rocket Internet announced that it has raised US$15 million in latest funding round led by White Star Capital, with participation from prominent investors including Delivery Hero-backed DX Ventures, Global Founders Capital, and Conny & Co.
The new funding will be used to expand the brand in 10 markets across APAC with 300 new stores planned for 2021.
Flash Coffee was launched not long ago in January 2020, and now operates 50 locations across Singapore, Thailand, and Indonesia. Flash Coffee has achieved strong profitability reflecting the success of its business model.
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,” said Brunier.
Seven new markets are already identified this year and they include Hong Kong, Taiwan, South Korea, Japan, Malaysia, the Philippines and Vietnam. Flash Coffee plans to build a regional HQ in Singapore and expand its regional tech hub in Jakarta. Indonesia is one of its major market for expansion in the near future.
The company aims to digitise today’s offline-dominated coffee industry with a newly launched consumer app that boasts a streamlined pick-up feature, sophisticated loyalty programme, personalised 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’s unique coffee menu is also curated by World Latte Art Champion Arnon Thitiprasert which sets it apart from conventional cafes and quick service brands. All drinks are prepared with premium ingredients and 100% Arabica coffee beans.