Helu.io raises EUR 9.8 mln in Series A financing

The company is building a new way for European SMEs to manage financial controlling, reporting, and budgeting.

The round was led by fintech specialists CommerzVentures, alongside tech-focused VC IRIS and early-stage investor Speedinvest.

Founded in 2020 by unicorn investor Franz Salzmann, the fintech helps CFOs and financial managers of SMEs to automate financial controlling and reporting processes. Many small businesses across Europe are still manually building excel sheets, merging accounting with non-financial data – meaning processes are slower and more cumbersome than they need to be. Helu.io provides SMEs with full access to accounting data in just one click. With easy-to-use software, Helu.io integrates into accounting software, enabling companies to transform their financial data into individual and easy-to-understand reports in a short time.

This fresh Series A lift now brings the company’s total funding raised to about EUR 14.8 million.

It will allow the Viennese company to expand its product offering with a budget planning module launched in 2023, which will enable CFOs of SMEs to set up a seamless experience throughout the budgeting, controlling, and reporting processes.