FlashX Completes CNY Millions in Angel Round Financing

Consumer Discretionary, Technology Author: Yongqian Yang Jan 19, 2023 12:28 PM (GMT+8)

Serving more than 4,000 sports clubs and millions of users within nine months of launch.

sports

The digital sports platform FlashX (Chinese: 闪动) has recently completed an angel round of financing of several CNY millions, funded by individual investors. This round of financing will be used for product research and development, daily operations and market expansion. 

Positioned as a digital sports platform, FlashX’s founding team is from Meituan (Chinese: 美团). FlashX was officially launched in April 2022, providing smart platform services for sports club communities and providing sports enthusiasts with an event participation platform. At present, Flash has served about 4,000 sports clubs, covering 40+ sub-categories, 80 cities, and serving millions of users. 

FlashX founder Chen Shuo said that FlashX first entered the sports market with the original intention of promoting the digital upgrading of sports organizations. In response to the pain points in the sports club market, Flash has launched the first digital platform specifically for club management, and has developed more than 30+ exclusive functions to help clubs carry out activities landing, operation promotion, event organization, member management, marketing analysis, sports insurance purchase, and so on.

For the C-end user side, participating in sports activities involve a few pain points as well. On the one hand, it is difficult to determine the venue, as about 90% of the venue time is reserved by sports clubs and training institutions, making it hard for them to book a suitable venue even long in advance. On the other hand, most sports activities have now changed from individual activities to community activities. Participating in sports communities can let them enjoy high-quality and low-cost sports services, and can quickly help people find friends with common interests. The release of information on these community activities needs to break down the barriers of transmission and make it easy for users to contact each other and participate.

FlashX’s mini-program provides users with the main function of finding activities and venues nearby. Clubs can release more than 40 different types of sports activities such as badminton, frisbee, camping, and hiking on FlashX. Chen Shuo said that FlashX attaches great importance to the connection with sports clubs. By inviting B-end clubs to join the release event, it can reach the private domain traffic of C-end users. These users perform well in both volume and stickiness, and about 60-70% of C-end users enter the platform through activities published by the club.