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Fintech Flash raises more than $100M in the second-largest contribution by an HRTech in Brazil

March 9, 2022
Por
Fabiana Rolfini
Fabiana Rolfini
Editora Startups Br
📷
TechCrunch
Flash, HRTech of corporate benefits, has raised over $100 million in series C round led by Battery Ventures and Whale Rock funds.
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The investment comes 10 months after the $22 million series B round, led by Tiger Global, which also participated in the new round along with Tencent, Monashees, GFC and Citius, as well as Hans Tung, Rahul Mehta and Kevin Efrusy. Between seed, Series A and B, the startup had already raised $30 million.

The new contribution is the second largest by an HRTech in Brazil, behind only the US$220 million that Gympass received last year from SoftBank, and comes two months after Gupy raised a US$93 million round. In February, hrtechs were tied with edtechs in the number of contributions, with 5 operations, according to SlingHub's survey. The segment has drawn attention because of the need to digitize the human resources areas, which traditionally invested little in technology.

According to Flash, Series C will enhance the development of its integrated platform dedicated to HRs, in addition to the product experience for users and expansion of the team of 300 employees.

"The resources will be invested in technology with a focus on developing our solutions for HRs and employees. We will evolve to an even more integrated platform, which optimizes time in the companies' routines and reduces bureaucracy for our customers," says Ricardo Salem, founder and president of the startup. The diversification strategy is also being followed by Caju.

Flexible benefits


Founded in 2019, Flash developed a solution that allows flexibility in benefits management through a technological platform integrated with an app and a Mastercard card accepted in more than 2 million establishments.

The portfolio includes FlashHub, a marketplace that unifies the offer of benefits and allows the contracting of health plans, gym aid, among others. FlashPoints allows employees to choose, within criteria pre-defined by the companies, how they wish to allocate their resources among the available benefits - increasing and decreasing the value of food and meal vouchers, upgrades and downgrades in the health plan, or extending the life insurance, for example.

With double-digit monthly growth, serving hundreds of thousands of users and thousands of companies - including VTEX, Neon and Loggi - HRTech expects to more than double revenue by the end of 2022.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

The investment comes 10 months after the $22 million series B round, led by Tiger Global, which also participated in the new round along with Tencent, Monashees, GFC and Citius, as well as Hans Tung, Rahul Mehta and Kevin Efrusy. Between seed, Series A and B, the startup had already raised $30 million.

The new contribution is the second largest by an HRTech in Brazil, behind only the US$220 million that Gympass received last year from SoftBank, and comes two months after Gupy raised a US$93 million round. In February, hrtechs were tied with edtechs in the number of contributions, with 5 operations, according to SlingHub's survey. The segment has drawn attention because of the need to digitize the human resources areas, which traditionally invested little in technology.

According to Flash, Series C will enhance the development of its integrated platform dedicated to HRs, in addition to the product experience for users and expansion of the team of 300 employees.

"The resources will be invested in technology with a focus on developing our solutions for HRs and employees. We will evolve to an even more integrated platform, which optimizes time in the companies' routines and reduces bureaucracy for our customers," says Ricardo Salem, founder and president of the startup. The diversification strategy is also being followed by Caju.

Flexible benefits


Founded in 2019, Flash developed a solution that allows flexibility in benefits management through a technological platform integrated with an app and a Mastercard card accepted in more than 2 million establishments.

The portfolio includes FlashHub, a marketplace that unifies the offer of benefits and allows the contracting of health plans, gym aid, among others. FlashPoints allows employees to choose, within criteria pre-defined by the companies, how they wish to allocate their resources among the available benefits - increasing and decreasing the value of food and meal vouchers, upgrades and downgrades in the health plan, or extending the life insurance, for example.

With double-digit monthly growth, serving hundreds of thousands of users and thousands of companies - including VTEX, Neon and Loggi - HRTech expects to more than double revenue by the end of 2022.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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Segmento:
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País de origen:
Headquarters:
São Paulo, SP
Monto inversión:
100
M
Ronda financiación:
Series C
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