Vienna-based fintech Helu.io scores €9.8 million to streamline financial processes for SMEs

Fintech startup Helu.io has just announced a raise of over €9.8 million (USD$10 million) in fresh funding. The Viennese company is building a new way for European SMEs to manage financial controlling, reporting and budgeting. 

On a mission to become Europe’s standard for SMEs around reporting, controlling and budgeting, Helu.io has just successfully closed its Series A financing. The startup picked up over €9.8 million in the round which 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 Vienna-based fintech helps CFOs and financial managers of SMEs to automate financial controlling and reporting processes – taking those that are still reliant on excel sheets into the digital era. Many small businesses across Europe are still manually building these 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 complex 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 €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.

Success is never accidental, it requires hard work and dedication. Congratulations to the entire team at Helu.io on your funding. I wish you all the best in your future endeavours.

Shishir Gupta, Founder and CEO, StartupLanes

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