Hero Image

Ex-Flipkart executive Ranjith Boyanapalli's Flash raises $5.8 million funding

Former Flipkart executive Ranjith Boyanapalli's early-stage startup Flash, which aims to build unified digital identities for frequent shoppers, has raised $5.8 million in seed funding led by global funds such as Global Founders Capital (GFC), White Venture Capital, Zinal Growth, Soma Capital, Emphasis Ventures and Peer Capital.



The funding also saw participation from a host of angel investors, including Flipkart's Binny Bansal, Cred’s Kunal Shah, Udaan’s Sujeet Kumar, and Groww’s Lalit Keshre. White Venture Capital is a fintech-focussed venture fund started by Jitendra Gupta, Amrish Rau and Sweta Rau.

Boyanapalli was with Flipkart for over eight years and was a senior vice-president at the firm before he started Flash in April.

The new startup, which will be launched in India first, aims to cater to the top 25 million ‘power shoppers’, who account for nearly 70% of the country’s online shopping revenue and are estimated to grow to 65 million by 2030. Flash will look to address potential challenges for these power shoppers around post-order experience, lack of rewards and cluttered communication by introducing unified digital identity that can be used across platforms.

The company said it plans to use the fresh funds for product development, hiring and global expansion.

“With Flash, we aim to craft a digital shopping identity for power shoppers, which will enhance shopping experiences. The unique digital shopping identity will allow online shoppers to access personalised experiences, rewards, and clutter-free communications,” said Boyanapalli, founder and chief executive officer, Flash. He added that Flash aims to onboard two million users in its first year.

“Power shoppers are an important consumer segment and their challenges are bound to magnify with increasing ecommerce penetration in India and globally. We are impressed with the Flash team and product, and are confident that they will make a significant impact over the coming years,” said Roel Janssen, partner at Global Founders Capital.

READ ON APP