Bluesheets raises $4 M and intends to use its business automation platform to better handle financial data and procedures

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Published on 06/18/2022

Bluesheets raises $4 M

Bluesheets is a Singapore based AI-Powered data-processing platform that enables financial automation for businesses. It was launched in 2020 as an AI-based data transformation platform for local and global organizations that automates enterprise accounting and facilitates financial automation. Bluesheets is a financial data processing platform that is flexible, easy to use, and adaptable to any industry or company size.

Bluesheets connects online and offline data to create a single digitized data lake that its users can utilize to operationalize in real-time using our connections.

Recently, Insignia Ventures took part in a $4 million round for Bluesheets bringing its total raised amount to $5.7 million. Bluesheets will use the new capital to extend the use cases of its software and reach additional firms in international markets. Bluesheets says that more than 10,000 firms' financial data has been automated through its platform since its SaaS product debut in September 2021.

Bluesheets was developed in 2020 by Christian Schneider and Clare Leighton to overcome businesses' inefficiencies in financial data consolidation, reconciliation, and processing. Before starting bluesheets, the co-founders saw the obstacles in a workflow as operators at fast-growing firms such as Rocket Internet, Foodpanda, and Uber APAC.

According to Bluesheets Co-founder and CEO Schneider, the pandemic-induced digitization surge for businesses has been a huge tailwind in the company's rising acceptance. Despite this, Schneider said there were no flexible systems to suit the needs, particularly for organizations attempting to merge offline and online data in Southeast Asia.

Due to fragmented tech stacks and the persistence of offline data records in business processes, most automation and integration platforms, according to the company, can still not digitize workflows fully.

According to Schneider, Bluesheets distinguishes itself by offering flexibility across use cases and ease of integration for users. According to Schneider, it has a long list of financial integrations (over 11 million to date) with a broad set of platforms, including Slack, Google Drive, and WhatsApp, as well as NLP capabilities that cater to more than 75 languages and more than 100 million data points automated by its AI. Schneider noted that it can also specialize in processing unstructured, offline data, which many organizations in Southeast Asia still deal with.

Schneider said, "Bluesheets users can leverage its platform to automatically process unstructured financial data from any source and in real-time,". He continued, "Bluesheets already does end-to-end processing through APIs, powerful classification algorithms, and machine learning techniques."

The platform aims to be a one-stop-shop for financial data processing, instantly linking all of their data sources to any destination so that employees may focus on higher-value jobs while still having access to vital data for decision-making.

Bluesheets is now focused on the Southeast region, but the business's CEO told TechCrunch that the company plans to expand globally to seven nations, including Australia, South Africa, the United Kingdom, and the United States.

Peter Daniels
Peter Daniels is the lead journalist for InsiderApps.com


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