Singapore-based Flash Espresso, a technology-enabled espresso chain backed by Rocket Web, introduced at this time that it has raised US $ 15 million in Collection A financing led by White Star Capital.
The spherical additionally featured main buyers, together with Supply Hero-backed DX Ventures, International Founders Capital and Connie & Co.
With this spherical, Flash Espresso’s whole capital has reached US $ 20 million as of date.
The newest funding can be used to broaden the model to 10 markets throughout APAC, which noticed the emergence of the likes of Indonesian chain Kopi Kenangan and 4 Espresso.
Flash Espresso was based by David Brunier (CEO) and Sebastian Hannecker (COO and CFO). Brunier was the primary Foodpanda CMO, whereas Hannecker labored for Bain Consulting earlier than turning into an entrepreneur.
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Launched in January 2020, Flash Espresso claims that it affords a menu of top of the range drinks at inexpensive costs. Clients can use their cell app to put and pay for on-line orders, to take orders from their yellow storefront, or to order supply by main platforms in every market.
The applying boasts a streamlined pick-up function, loyalty applications, personalised promotions and interactive challenges.
In response to the startup, its distinctive espresso menu curated by world latte artwork champion Arian Thittiprasart units it aside from conventional cafes and quick-service manufacturers. All drinks are ready with premium components and one hundred pc Arabica espresso beans. Its signature drinks embrace Evo Latte, Nutella Latte and Lychee Espresso, to call a couple of.
Flash Espresso is now working in 50 areas in Singapore, Thailand and Indonesia, with most of its shops already reaching profitability. There are plans to open 300 new shops within the area by the top of this 12 months.
“Our dream is to have a flash espresso each 500 meters in all main Asian cities,” Brunier mentioned. “A spherical of robust investor help for our chain allows us to harness untapped potential within the area and replicate our success in seven new markets this 12 months: Hong Kong, Taiwan, South Korea, Japan, Malaysia, the Philippines and Vietnam. “
He added, “We can even construct a regional headquarters in Singapore and totally help our imaginative and prescient of leveraging expertise to enhance buyer expertise to 50 folks whereas increasing our regional tech hub in Jakarta.”
Eric Martino-Fortin, founder and managing accomplice of White Star Capital, mentioned, “We imagine the tech-enabled strategy of the model is to cut back the demand for inexpensive premium espresso by offering high-quality espresso and glorious costs.” Will present the power to. These are quickly increasing Asian markets. “
The South East Asian espresso chain market is very congested with Kopi Kenangan and 4 Espresso being the important thing gamers. Whereas Flash Espresso, with a slew of high-profile backers, has made its intention very clear, will probably be a troublesome job for it to take native behomers and discover a area of interest out there.
Kopi Kenangan, which entered the market at the very least three years earlier than Flash Espresso, raised an enormous US $ 109 million in Collection B in March 2020, led by Sequoia Capital. It already operates 426 retailers in 26 cities, with plans to additional broaden their enterprise. 4 Espresso – supported by East Ventures, SMDV and Pavilion Capital – can be a severe participant and bold to broaden regionally in Indonesia.
Who’s going to be the final word winner?
Picture Credit score: Flash Espresso
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