LatamList – Flash, a Brazilian HR startup, raised a $22M Series B funding round led by Tiger Global. Monashees, Global Founders Capital, Citius, and Kauffman Fellows also participated in the round.
Flash provides customized employee benefits cards and vouchers that are individual to employee needs. The startup currently serves 4,000 companies, from startups and SMEs to major enterprises.
The Flash app, which also comes with a MasterCard, is a replacement for the āoutdated, commoditized, and mandatoryā benefits system of meal, food, and transportation vouchers that exists in Latin America. The app allows companies to configure their benefits offering so that employees can choose the benefits that best suit them and their individual needs.
When the pandemic hit, companies wanted to help their employees manage bill payments as compensation. Flash built its platform with QR code technology to enable such payments, and also built-in an incentive and rewards platform for employees.Ā
Flash believes that the platform has huge scope for growth to develop other HR tools that can solve other issues for Brazilian companies.
āLast year proved that [Flash] is not just a midsize tech company product. This is for every employee from tech employees to blue collar workers to CEOs. Everyone has flexible benefit needs and different lifestyles, and they need a product adapted to all of those,ā said Ricardo Salem, co-founder and CEO of Flash.
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