Singaporean tech-enabled coffee chain Flash Coffee successfully closes its Series B funding round raising US$50 million.

Singapore-based tech-enabled coffee chain Flash Coffee has successfully completed an extension of its Series B funding round raising US$50 million. The financing round was led by White Star Capital alongside other existing investors including Delivery Hero, Geschwister Oetker, and Conny & Co.

“We are proud to further strengthen our investment in Flash Coffee, which has demonstrated impressive growth in a very short period of time. We stand by the company’s mission to broaden access to premium coffee for consumers across Asia using the power of technology, and believe that the brand has resonated strongly with its audience. Flash Coffee is well-positioned to become a leading coffee chain in the region, and we look forward to continuing working closely with the team to support their continued growth and progress towards profitability,” said Joe Wei, the General Partner of White Star Capital.

Singaporean Coffee Chain Flash Coffee Raises US$50 Million

Launched in 2020, Flash Coffee now operates over 200 stores in Singapore, Thailand, Hong Kong, Indonesia, and South Korea. Customers can use the Flash Coffee app to order and pay online to pick up orders or arrange a delivery.

The funds raised will be invested in accelerating the company’s mission to sustainably grow its footprint serving high-quality specialty coffee across the Asia Pacific region (APAC) while doubling down on technology and product innovation.

Singaporean Coffee Chain Flash Coffee Raises US$50 Million

Experiencing exponential growth over just two years, Flash Coffee had a 23-fold increase in year-on-year revenue in 2021, followed by another four-fold year-on-year increase in 2022. With its stores being profitable across APAC, the company is on track to achieve its target of group level profitability by 2024.

David Brunier, the Founder and CEO of Flash Coffee, commented, “We are grateful to have the continued backing of our shareholders in this financing round. With 100% of our 92 stores in Indonesia being profitable, we have found a solid product market fit and are eager to expand our presence into additional cities in Indonesia to further drive sustainable growth. Offering a product that people love and following our ongoing trajectory of topline and profitability improvements, we are confident that we will reach our overarching goal of being profitable on a group level next year.”

Singaporean Coffee Chain Flash Coffee Raises US$50 Million

Flash Coffee will continue to expand in its most mature market, Indonesia, following the company’s recent successful entry into Bandung – its first expansion outside of a capital city – with 11 outlets across the metropolitan area of over 8.8 million inhabitants. The Singaporean coffee chain will also be officially launching in Surabaya in July 2023.

Singaporean Coffee Chain Flash Coffee Raises US$50 Million


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