The $6.2M round will fuel Flash Pack's single mission: to create one million meaningful friendships through travel
NEW YORK, Oct. 23, 2023 - Flash Pack, the adventure-travel company specializing in boutique trips for solo travelers in their 30s and 40s, has announced a $6.2M fundraising round led by JamJar Investments and participation from existing investors PPF.
"In the last two years since the brand's relaunch, we have seen a massive appetite from customers to build meaningful connections through travel," said Radha Vyas, CEO and co-founder of Flash Pack. "Solo travel has rapidly grown in popularity as people look to make up for lost time and expand their horizons, and the recent investment indicates the value and opportunity in this growing trend. We are incredibly excited to continue our success within the US market, creating even more friendships in the process."
Fuelled by a loneliness epidemic and the need for connection, the U.S. has become Flash Pack's fastest-growing market, with 60% of its total trip sales driven by demand from U.S. travelers.
The recent investment comes almost exactly three years after the pandemic forced the business into bankruptcy, following a series of travel restrictions. Founder and CEO Radha Vyas relaunched the business in 2021, backed by PPF, with a single mission: to create one million friendships by curating meaningful connections and perfecting the group dynamics of every trip.
The business has since grown to a 65-strong team of employees globally, with plans to triple its US employee count within the next six months. The new funds will be used to bolster the company's product and platform with hires in technology and will formalize its office opening in the market.
Female founders received only 2% of all venture capital funding in 2022, a number that decreases further for female founders of South Asian descent (0.8%). This makes Radha one of a handful of South Asian female founders to have secured investment at this stage of their business.
"At JamJar we're on a mission to invest in and help grow early-stage consumer businesses who are using tech to disrupt their categories, as well as having a positive impact on the world," said Richard Reed, JamJar Investments Co- Founder. "Flash Pack is not just revolutionizing the way people travel, but how we interact with one another. More needs to be done by investors to fund female-founded ventures, particularly from women of color. Under Radha's leadership Flash Pack has escaped the fate of the pandemic and come out better than ever, and so we have high hopes for what they will achieve over the next three years."
About Flash Pack:
Redefining group tours since 2014, adventure-travel company Flash Pack specializes in creating boutique trips for solo travelers in their 30s and 40s. Each Flash Pack adventure is meticulously designed to include experiences that would be almost impossible to arrange yourself – or too expensive to do on your own. Obsessed with building the best group dynamics, the brand focuses on bringing together like-minded people at the same life stage.
For more information please visit: www.flashpack.com
