Thu. Sep 21st, 2023
    Digital Identity Creator Flash Raises $6.7 Million in Funding

    Flash, a digital identity creator for frequent shoppers, has secured $6.7 million in a pre-Series A investment round. The funding was led by Blume Ventures and existing investor PeerCapital, with participation from other backers including White Venture Capital and Emphasis Ventures.

    Founded in April 2022 by former Flipkart executive Ranjith Boyanapalli, Flash aims to streamline order processing and communication with sellers for shoppers. It also offers frictionless rewards programs. The company plans to engage with 25 million frequent shoppers who contribute a significant portion of e-commerce revenue.

    Flash generates a comprehensive shopping report that highlights users’ spending behaviors across categories and platforms. The company intends to expand into the US and Europe.

    While Flash doesn’t have direct competition, it does compete partially with reward management platforms like CashKaro and Nearbuy. However, Flash’s focus on digital identity creation sets it apart.

    As of March 2023, Flash has created 400,000 IDs and processed 5 million emails. The company has less than 500,000 app downloads across Android and App Store platforms.

    Although Flash is in the pre-revenues stage until FY23, investors are optimistic about its revenue stream in the coming years.

    Source: [Entrackr](source)