Rocket Internet-backed Flash Coffee lays off staff across markets

FLASH Coffee, a coffee chain headquartered in Singapore and backed by venture capital, has become the latest startup to lay off staff amid a weakening economy. Retrenchments were made regionwide, including in Singapore and Indonesia, going by the LinkedIn posts of some former employees.

The extent of the layoffs could not be determined. Flash Coffee did not respond to multiple requests from The Business Times for comment.

Flash Coffee, known for its brightly coloured yellow and pink kiosks, is among the handful of coffee chain startups in Asia rapidly expanding on a “tech-enabled” formula made popular by Luckin Coffee and fuelled by venture capital.