BeyondSquare raises $4 mn from Avant to expand financial reporting services

Bengaluru-based firm will use investment to improve its software platform and expand in global markets

Enterprise technology firm BeyondSquare Solutions said on Wednesday it has raised $4 million in a Series A funding round from Avant Global Corporation to expand its financial reporting software services.

 

The investment will be done in three stages, beginning with the issuance of new and convertible shares, followed by additional subscriptions from existing shareholders, and the conversion of warrants upon achieving “defined performance milestones”, said the Bengaluru-based company in a statement.

 

BeyondSquare owns FinAlyzer, a homegrown software that automates financial consolidation and compliance processes with accuracy and transparency. It provides real-time insights, strengthens governance, and reduces operational risks for finance teams.

 

 

BeyondSquare will use the investment to strengthen FinAlyzer’s capabilities by “expanding automation, deepening compliance intelligence, and enhancing scalability for enterprises with complex reporting structures”. The company aims to extend its footprint in West Asia, Europe, and Southeast Asia, while building leadership and technical talent.

 

According to Credence Research, the global financial consolidation software segment is projected to double from $3.2 billion in 2024 to $6.4 billion by 2032, at a compound annual growth rate of around 11-11.4 per cent.

 

“With Avant’s investment, we are not just strengthening our platform, we are accelerating our journey towards shaping the future of finance. This partnership opens new possibilities: Deeper innovation, global market expansion, and the ability to empower more finance teams to lead with agility, governance, and foresight,” said P K Venkatachalam, co-founder and chief executive officer of BeyondSquare. Karthik Ganeshan and Rangan Varadan are the other cofounders of the company.

 

FinAlyzer is used by more than 100 enterprises across 25 industries in over 45 countries, said the company.