Coffee, anyone? Singapore-based tech-enabled coffee startup Flash Coffee just raised a $50M Series B led by White Star Capital!

• They saw 4x YoY revenue growth in 2022 and saw a 23x increase in 2021.
• They last raised a $15M Series A in 2021.

Investor check. Citadel International Holdings, Vulpes Ventures, Conny & Co., Delivery Hero, Geschwister Oetker, Al-Dhow, OurCrowd and DX Ventures also joined in!

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☕️ Behind the brew

Founded in 2020, they sell quality specialty coffee and drinks at affordable prices. While prices differ across Asia, it's about 50% cheaper than Starbucks!

• They're active in Indonesia, Singapore, Hong Kong, South Korea, Thailand and Taiwan.
• Apart from your typical lattes and cappuccinos, they also have signature drinks like the Avo Latte, Nutella Latte and Lychee Espresso Soda.

It's in the tech. Order in-store, through third-party food delivery apps or through their Flash Coffee app! We hear their baristas even have their own app to stay efficient.

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🇮🇩 Indonesia plans?

They're going great. 100% of their 92 stores are profitable, and they're now going deeper into Indonesia and expanding to other cities like Surabaya.

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⚡️ Profitability in a Flash

With the new $$$, they'll be hitting accelerate on their plans to hit group-level profitability by 2024.

• They'll push for innovation with their tech and product and increase the sales performance of existing stores. Oh, and they plan to keep sustainably expanding within Asia.