Finance automation startup Bluecopa raises $2.3 million in funding led by Blume Ventures
Founded in 2021 by Raghavendra Reddy, Satyaprakash Buddhavarapu and Nilotpal Chanda, Bluecopa helps enterprises automate financial operations such as business planning scenario modelling, variance analysis, intelligent alerts, and reconciliations, among others. It also provides real-time actionable insights to help the finance team take key decisions.
“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, and financial services, among others,” said Satya Prakash, cofounder, Bluecopa.
The startup will deploy the capital for hiring and increasing its customer base. Prakash believes solving these aspects can increase sales by 20% and profitability by 30%.
“Bluecopa supports a 10-million strong finance community globally to significantly reduce time in decision cycles and focus on the numbers that matter,” he said.