SUMMARY
Titan Capital, T-Fund, Speciale Invest, Bharat Founders Fund, T2D3, Amplify, and Force Ventures and some individual investors participated in the round
Bluecopa will use the fresh funds to improve its platform capabilities, hire talent and grow consumer base
The startup helps CFOs and finance teams of high-growth companies get a real-time view of business KPIs, business insights and accordingly, take business decisions
Fintech SaaS startup Bluecopa has raised $2.3 Mn in its seed funding round led by 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 from Darwinbox, and Asad Khan and Jay Singh from Lambdatest participated in the round.
Bluecopa will use the funds to improve its platform capabilities, hire talent and grow the consumer base.
“We loved Bluecopa’s data-infra-focused approach to solving this critical problem for finance teams. With Satya having expertise in building a data infra product, Neel’s strong credentials as an enterprise sales maestro, and Raghava’s experience in finance, we couldn’t have asked for a better team to solve a problem that every industry is grappling with,” said, Anirvan Chowdhury, vice president of investment team at Blume Ventures.
Founded in 2021 by Raghavendra Reddy, Satyaprakash Buddhavarapu and Nilotpal Chanda, Bluecopa is a finance operations automation platform that helps CFOs and finance teams of high-growth companies get a real-time view of business KPIs, business insights and accordingly, take business decisions.
Bluecopa said it helps accelerate finance operations and helps CFOs as well as the finance team manage operations across the company. It provides an excel-like interface and helps process millions of transactions in real-time, according to the startup.
Bluecopa manages business planning, scenario modelling, variance analysis, intelligent alerts and reconciliations, among others.
“There is an increasing dependency on data teams, expensive and complex tools and clunky Excel spreadsheets to understand business drivers. This is a hair-on-fire problem particularly in high transaction volume industries such as e-commerce, logistics, financial services etc. Solving these aspects can increase sales by 20% and profitability by 30%,” said Satya Prakash, cofounder ofBluecopa.
Bluecopa’s founding team comprises second-time entrepreneurs who hold rich experience in building products and companies in fintech, ERP, AI and data-engineering sector. Prior to building Bluecopa, Satyaprakash built a machine learning platform—Tuplejump which later got acquired by Apple in 2016.
The startup competes with the likes of fintech SaaS startup FinBox which raised $15 Mn in June.
According to an Inc42 report, India’s fintech industry is projected to grow into a $1.3 Tn market by 2025. Of this, fintech SaaS is one of the largest sub-segments that will become a $12.6 Bn market, growing at a CAGR of 40% during 2021-25.
