Hyderabad-based finance operations automations platform Bluecopa, introduced on Tuesday, that it has scooped up $2.3 million in seed funding, a spherical that was led by Blume Ventures.
The spherical included the participation from outstanding angels reminiscent of Chargebee’s Krish Subramanian and Rajaraman Santhanam, Darwinbox’s Rohit Chennamaneni, and LambdaTest’s Asad Khan and Jay Singh. Titan Capital, T-Fund, Speciale Make investments, Bharat Founders Fund, T2D3, Amplify, and Drive Ventures additionally took half within the seed spherical of funding.
Bluecopa will probably be deploying the funds in the direction of enhancing its capabilities, driving recruitments, and increasing its appreciable shopper base.
Based in 2021 by Raghavendra Reddy, Satyaprakash Buddhavarapu and Nilotpal Chanda, Bluecopa helps within the automation of economic operations reminiscent of enterprise planning situation modelling, variance evaluation, clever alerts, and reconciliations, whereas concurrently offering real-time actionable insights to assist the finance staff take key choices. The upstart goals to empower monetary groups to “give attention to strategic finance” because it “helps CFOs and finance leaders get a real-time view of all of the enterprise KPIs, get actionable insights and supply strategic path to enterprise leaders.”
Bluecopa is eyeing the quick rising Indian fintech market. It’s anticipated that the home fintech market will develop at a CAGR of 31% throughout 2021-25 and attain $1.3 trillion by 2025.
Out of this, a giant slice of the pie goes to fintech SaaS, which is slated to be price $12.6 billion. It has managed to outlive the funding crunch thus far and clocked robust development in India through the pandemic, and India’s SaaS market is slated to succeed in the $1 trillion milestone by 2030.