Singapore-based data transformation platform Bluesheets today announced that it has raised US$1.5 million in a funding round led by Investible, the Australian investment group that is known as an early backer of Canva.
Antler, 1982 Ventures, Kiplex Ventures and Kistefos also participated in the funding round.
In a press statement, the company said that it will use the funds to scale Bluesheets to all markets while continuing to expand its offering to new client segments.
Bluesheets uses Artificial Intelligence (AI), classification algorithms, and machine learning to automate enterprise accounting and enable financial automation for local and global businesses.
Christian Schneider, co-founder and CEO of bluesheets, explained how the platform works: “Bluesheets connects tools like WhatsApp, your email inbox, or your revenue channels seamlessly with accounting platforms like Xero or Quickbooks and many other third-party apps. We provide input and export APIs for third-party platforms to plug into the system for greater interoperability and vertical integration within the Bluesheets ecosystem.”
The platform was meant to solve the problems faced by many businesses today, who are facing a dilemma between processing valuable data manually and investing time and resources in accessing it. It tackles the problem by building a single tool that enables these functions.
Bluesheets works with SMEs, accounting firms and large enterprise clients. It implements a self-serve SaaS model and tiered subscription plan; it also connects with local fintech platforms, Point-of-Sales (POS) platforms and messaging tools to make more connections available to users.
The company was launched by Schneider and Clare Leighton this year. Prior to launching Bluesheets, they were executives at companies such as Uber, Rocket Internet, Delivery Hero and Citi Group.
Since its launch, Bluesheets said that it has acquired enterprises and SME customers in over 10 countries and has added over 100 paying customers in August. It counted global brands such as Pizza Express, Osome, and Nextpay as their users.
ARTICLE WRITTEN BY: e27
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