Startup Flash Raised $100 million in Series C Investment from Major Investment Funds

Battery Ventures, Whale Rock, Tencent, Tiger Global, Monashees, GFC and Citius, as well as Endeavor Scale Up Ventures, Kevin Efrusy, Hans Tung and Rahul Mehta participate in the round

Brazilian startup Flash, a platform specialized in the corporate benefits, has raised $100 million in a round of investments led by global funds Battery Ventures and Whale Rock Capital. The round takes the company on the way to becoming a unicorn.

The round by which Flash raised its Series C finance had the participation of Tencent, Tiger Global, Monashees, GFC and Citius, as well as Endeavor, Scale Up Ventures, Kevin Efrusy, Hans Tung and Rahul Mehta.

Founded in 2019, Flash has become a hub of human resources solutions for companies of all sizes, offering companies a Mastercard card, by which employee benefits, food vouchers and transportation vouchers gives the holder more options to choose from and therefore manage his or hers benefits more productively.

As Flash raised $100 million more in equity finance its president and co-founder Ricardo Salem told the press that the funds will be used to hire new employees and also to expand the company’s product line. By the end of 2022 Salem expects to double the current payroll of 320 employees. Among the new offers will be “pharmacy voucher and others related to health, in addition to salary anticipation”.

The Esquires and the Firms Behind the Deal

About Bronstein Zilberberg counseling of Flash’s raise of its series C equity finance

Bronstein, Zilberberg, Chueiri & Potenza Advogados represented and acted as Brazilian legal counsel to Flash. 

Partner Eduardo Zilberberg led the Bronstein Zilberberg deal team which included associates Giuliana Primati, Fábio Baum.

Bronstein Zilberberg is a full service law firm based in São Paulo and is highly recognized as one of the top M&A Venture Capital law firms in the country. 

Pinheiro Neto Advogados acted as Brazilian legal counsel to the Investors.

The firm is one the most traditional full service law firms of Brazil. Pinheiro Neto is headquartered in São Paulo with offices in Rio de Janeiro, Brasilia, Palo Alto and Tokyo.