Flash Coffee, a Singapore-based coffee chain, raised $15m in its Series A funding round led by White Star Capital, a global tech investment firm. In total, the company raised $20m, backed by funding from other investors including Global Founders Capital, DX Ventures and Conny & Co. Armed with this funding, the coffee chain plans to expand its operations in Asia by adding 300 new outlets by the end of 2021, opening ten new stores every week. Currently, Flash Coffee has a presence in three countries, namely Singapore, Indonesia and Thailand, with a total of 50 stores.

Flash Coffee is a tech-backed coffee chain that allows consumers to order and pay via its own app. Consumers can pick up their orders from the stores or have them delivered to their homes or offices through food delivery partners. Leveraging its technology, the coffee chain aims to digitise the café industry, which is currently dominated by offline players. This trend is expected to play a crucial role, especially during the Covid-19 pandemic. According to in GlobalData’s 2020 Market Pulse survey, one in four (25%) of consumers in Asia-Pacific said that when purchasing food and drinks the ‘convenience’ factor is now more important to them or their top priority as a result of the Covid-19 pandemic.*

It could be argued then, the coffee chain was well placed to capitalise on this demand for quick, digital and convenient purchasing channels, which helped the company to perform strongly and achieve profitability in most of its stores during the pandemic. Capitalising on this success, the company aims to set up a Flash Coffee store every 500 meters in prime areas across all major cities in Asia. The company also announced that, in 2021, it will open stores in seven new markets including Taiwan, Hong Kong, Japan, South Korea, Vietnam, the Philippines and Malaysia.

Moreover, the app also enables Flash Coffee to offer personalized promotions and a loyalty programme to consumers. Furthermore, by relying on the app, the coffee chain is poised to improve its operational efficiency and improve its customer experience. The pick-and-go business model enables Flash Coffee to cut down on the costs and provide consumers with the option to buy premium coffee at affordable prices. Flash Coffee can thereby gain appeal among price-conscious consumers that still want quality products and a flavorful experience.

*GlobalData 2020 Market Pulse survey, published in September 2020.

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