Singapore-based coffee startup Flash Coffee has raised $15 million in Series A funding. The funding round was led by White Star Capital. Other investors in the round included Hero-backed DX Ventures, Global Founders Capital, and Conny& Co.
To date, the company has raised $20 million. Series A funding will help the company expand its presence in ten markets across the Asia-Pacific. The company will also scale up its hiring for the expansion.
Flash Coffee's yellow and pink-themed outlets are a rage in Thailand, Singapore, and Indonesia. The company's pricing is on point and attracting a lot of customers as its products are priced almost 50% lower in comparison to Starbucks.
"Our dream is to have a Flash Coffee every 500 meters in all major Asian cities," said chief executive David Brunier.
"We will also build a regional HQ in Singapore and expand our regional tech hub in Jakarta to 50 people to support our vision of fully leveraging technology to improve customer experience, proactively drive growth and significantly increase operational efficiency," he added.
The company will be hiring 2,000 new employees over the year for the many roles in technology, operations, marketing, and finance, real estate, and interior design. The company is entering seven new markets this year, including Hong Kong, Taiwan, South Korea, Japan, Malaysia, the Philippines, and Vietnam.
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