Software Startup Bluesheets Raises US$3.5M in Series A Funding

Software Startup Bluesheets Raises US$3.5M in Series A Funding

by January 22, 2024

Bluesheets, a Singapore financial automation software company, has successfully secured US$3.5 million in fresh equity funding during its Series A funding round, as confirmed by regulatory filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA).

Illuminate Financial Management, a venture capital investor in financial enterprise software companies, was the anchor investor for this round, contributing US$3 million. Early-stage VC firm Antler also participated as a backer.

It’s important to note that these figures reflect only the equity portion of the funding. The total round value may encompass other financial instruments, including debt.

The company’s ACRA filings suggest the possibility of raising an additional US$500,000 in this round. The company is also in the process of issuing shares worth US$2.5 million in shares to simple agreements for future equity (SAFE) investors like Insignia Venture Partners and 1982 Ventures.

The Series A adds to the company’s US$4 million raised in May 2022 and previous seed investments.

The company, founded by former Uber Asia Pacific executive Clare Leighton and former Rocket Internet executive Christian Schneider, uses AI and machine learning to integrate accounting software with messaging, email, and other systems to streamline financial workflows.

Featured image credit: Edited from Freepik