Bluecopa, an Indian startup building a finance operations automation platform for high-volume companies, has raised $2.3 million to expand its offering in the global market.

The seed funding round was led by Mumbai-headquartered Blume Ventures, with participation from Titan Capital, T-Fund, Speciale Invest, Bharat Founders Fund, T2D3, Amplify and Force Ventures.

It was also joined by Chargebee founders Krish Subramanian and Rajaraman Santhanam, Rohit Chennamaneni of HR management platform Darwinbox and Asad Khan and Jay Singh of cross-browser testing tool LambdaTest.

"Just to take an analogy, say Salesforce for sales, Marketo for marketing, GitHub for developers, there is a large whitespace in the finance space," said Nilotpal Chanda, co-founder and chief business officer of Bluecopa, in an interview with TechCrunch.

Bluecopa was founded in 2021 by Chanda and his fellow entrepreneurial teammates Raghavendra Reddy and Satya Prakash Buddhavarapu. The trio previously worked together at tax management platform Optotax, which was acquired by neobanking platform Open in February last year. Tuplejump, another startup Buddhavarapu founded, was acquired by Apple in 2016.

Bluecopa co-founders Raghavendra Reddy, Satya Prakash Buddhavarapu and Nilotpal Chanda (from left to right). Image Credits: Bluecopa

Unlike a traditional platform that requires specific expertise to operate, Bluecopa's offering is touted to work with no special knowledge requirements. It also claims to work with all the existing SaaS tools as well as Excel, Google Sheets and all other platforms that finance teams use.

"It's a layer that connects to all these tools in the organization, fetches data, cleans, consolidates, normalizes and then provides all that information in a very human consumable format," Chanda explained.

The tool offers an Excel-like interface that finance experts can easily use to understand their companies' accounts, he said. "Fundamentally, the tools available today are not very user-friendly. It also takes a lot of time to implement them," he said.