Titan Capital, T-Fund, Speciale Invest, Bharat Founders Fund, T2D3, Amplify, and Force Ventures and some individual investors also participated in the round.
Bluecopa will make use of the new funds to upgrade its platform capabilities, employ new talent, and expand its consumer base
The startup assists CFOs and finance teams in high-growth firms have a live overview of business KPIs, business data and, consequently, make business-related decisions
Fintech SaaS startup Bluecopa has acquired $2.3 Million in its initial financing round under the direction of Blume Ventures.
Titan Capital, T-Fund, Speciale Invest, Bharat Founders Fund, T2D3, Amplify, and Force Ventures and individual investors including Krish Subramanian and Rajaraman Santhanam from Chargebee, Rohit Chennamaneni, a member of Darwinbox as well as Asad Khan, and Jay Singh from Lambdatest participated in the round.
Bluecopa will utilize the funds to expand the capabilities of its platform recruit talent, and expand the customer base.
Read more ERP trends in 2022
We enjoyed Bluecopa’s data-infra-centric approach to solving this crucial issue to finance and accounting teams. With Satya with her expertise in building an infrastructure-based data product, Neel’s renowned credentials as an expert in enterprise sales and Raghava’s extensive experience in finance we couldn’t have asked for an easier team to tackle an issue that every industry has to deal in, said, Anirvan Chowdhury, vice-president of the Blume Ventures’ investment team. Blume Ventures.
The company was established in 2021 in 2021 by Raghavendra Reddy Satyaprakash Buddhavarapu as well as Nilotpal Chanda in 2021, Bluecopa can be described as a financial automation system that aids CFOs and finance teams from companies that are growing rapidly get a current analysis of KPIs for business as well as business insight and, consequently make business-related decisions.
Bluecopa stated that it assists in speeding up financial operations and aids CFOs and finance managers manage processes across the business. It has an Excel-like interface that can process hundreds of thousands of transactions real-time according to the company’s founders.
Bluecopa oversees the business strategy, situational modeling and variance analysis, as well as intelligent alarms and reconciliations, and many other things.
There is a growing dependence of data-driven teams costly complex and complicated tools, and unwieldy Excel spreadsheets to analyze the business drivers. This is a problem that can be a fire-breather particularly in high-volume transaction sectors like e-commerce, logistics, financial services , etc. The solution to these problems can increase revenues by 20 percent and increase profitability by 30 percent, said Satya Prakash who is the co-founder of Bluecopa.
Bluecopa’s founders are second-time entrepreneurs with extensive experiences in the development of businesses and products in the finance, ERP, AI and the field of data engineering. Prior to the creation of Bluecopa, Satyaprakash built a machine learning technology called Tuplejump, which was later acquired by Apple in 2016.
The startup is competing with Fintech companies such as SaaS FinBox, a startup FinBox which was able to raise $15 million at the end of June.
In the Newsexposer research report that India’s fintech sector is expected to become an $1.3 trillion market in 2025. Of this the fintech sector, SaaS is among the biggest sub-segments which will be an $12.6 Billion market, expanding by 40% between 2021 and.