Flash, an ecommerce startup founded by former Senior Vice-President Ranjith Boyanapalli, has raised $5.8 million in seed funding from (GFC), , Zinal Growth, , , and Peer Capital.
Several angel investors including Binny Bansal (ex-Co-founder, Flipkart), Kunal Shah (Founder, ), Arpan Sheth (Senior Partner, Bain & Co), Sujeet Kumar (Co-founder, ), Nikhil Srivastava (PAG Venture), Lalit Keshre (CEO, ), and Rishi Vasudev (Co-Founder, GOAT Brand Labs) participated in the round.
Flash is an ecommerce platform aiming to create an end-to-end ecosystem to empower consumers by offering better communication and a personalised shopping experience.
The ecommerce platform will use the funds for product development, hiring, and global expansion. It also aims to onboard two million users in its first year, according to a statement.
Flash looks to address the potential challenges power shoppers face regarding post-order experience, lack of rewards, and cluttered communication. The company expects these concerns to magnify if left unresolved as more brands and consumers switch to online shopping.
Ranjith was Senior Vice-President at Flipkart and in charge of fintech and payments group, customer experience, and marketplace segments during his eight-year stint at the Walmart-owned company.
In 2010, he founded BuyThePrice.com, an ecommerce marketplace that raised seed funding from angels including Rajan Anandan, Rehan Yar Khan, and Sunil Kalra. The company was acquired by Tradus, an Ibibo group company, in 2013.
“With Flash, we aim to craft a digital shopping identity for power shoppers, which will enable delightful shopping experiences. The unique digital shopping identity will allow online shoppers to access personalised experiences, rewards, and clutter-free communications. Our AI/ML-led platform will be backed by best-in-class encryption to protect privacy and give control back to the consumer,” said Ranjith, Founder and CEO of Flash.
