Singapore-based coffee retail chain Flash Coffee secured $15m today in a series A round featuring DX Ventures, the venture capital fund formed by food delivery service Delivery Hero.
Investment firm White Star Capital led the round, which included Global Founders Capital and Conny & Co. The company said it has now raised $20m in total, and named e-commerce holding group Rocket Internet as an existing investor.
Flash Coffee allows users to pay for coffee in advance with their mobile devices and pick it up from a local branch or organise to get it delivered. The cash will fund an expansion drive taking in South Korea, Japan, Hong Kong, Taiwan, Malaysia, the Philippines and Vietnam.
DX Ventures partner Brendon Blacker said: “DX Ventures is very excited to support Flash Coffee in its series A round and significantly increase our investment in the company.
“We see enormous potential for the business to attract a loyal customer following for its premium quality and highly innovative coffee menu. We look forward to supporting Flash Coffee with its rapid regional expansion plans.”
Photo courtesy of Flash Coffee.
