Rocket Internet-backed coffee chain Flash Coffee has secured $3 million in fresh funding led by global early-stage investor TA Ventures, with support from existing backer White Star Capital, according to a company statement on Wednesday (Apr. 30).
The new capital will support the rollout of Flash Coffee’s revamped store format and accelerate its plan to expand beyond 70 outlets across Indonesia by the end of 2025, including entry into two new cities.
Flash Coffee’s executive chairman, Jakob Angele, said in the statement that the brand is now entering a disciplined growth phase after achieving store-level profitability and operational improvements.
“The past year has been about discipline. We’ve focused on getting the fundamentals right; profitable stores, stronger teams, better menus, and spaces that reflect the modern Indonesia. We didn’t chase growth; we earned it,” said Angele. “This latest investment will help us scale what works: beautifully designed stores, high-performing teams, and a product that speaks to today’s Indonesian consumer.”
He claimed that all its stores in Indonesia are now profitable, with average per-store revenue having doubled over the past year. Its newer outlets are outperforming, with an average store-level EBITDA of 36%, above industry norms.
As part of its revitalisation strategy, the company is rolling out a refreshed visual identity that embraces Indonesian culture. The redesigned outlets feature locally sourced materials, greenery, and a ‘Kebanggaan Indonesia’ (Proudly Indonesian) mark. Angele said this rebranding effort is not merely cosmetic but a key component of its profitability and customer loyalty strategy.
TA Ventures’ Southeast Asia lead Richard Armstrong said the firm was drawn to Flash Coffee’s alignment with evolving consumer behaviour in Indonesia, where people seek more meaningful, personalised brand experiences.
“We spent significant time analysing the opportunities in this category across Southeast Asia. Flash Coffee has clearly adapted to the evolving behaviour of Indonesian consumers, who seek more meaningful and personalised brand experiences,” said Richard Armstrong, venture partner and Southeast Asia lead at TA Ventures.
Flash Coffee was founded in 2020 by former Foodpanda chief marketing officer David Brunier and ex-Bain & Company executive Sabastian Hannecker.
The company had previously shuttered a significant portion of its operations in Singapore, Japan, and Taiwan amid a broader regional retreat. As of May 2023, Flash Coffee operated more than 200 outlets across Singapore, Indonesia, Thailand, Hong Kong, and South Korea.
In November 2023, the company’s Thai business was acquired in a distressed sale by Singapore-based distressed buyout investor Turn Capital.
According to DealStreetAsia’s DATA VANTAGE, Flash Coffee has raised over $68 million since its inception, from backers including White Star Capital, Delivery Hero, Global Founders Capital, Rocket Internet, Conny & Co, Geschwister Oetker Beteiligungen, OurCrowd, and others.
In the region, Flash Coffee faces stiff competition from local and regional players, such as Indonesia’s Kopi Kenangan, Fore Coffee, Malaysia’s ZUS Coffee, the Philippines’ Pickup Coffee, as well as China’s Luckin Coffee and Cotti Coffee.
