Founded in 2020, the fintech Helu (website) has set itself the goal of becoming the standard for SMEs in reporting, controlling and budgeting. Now the Viennese company has secured $10 million in funding in a Series A round led by CommerzVentures and VC firms IRIS and Speedinvest. This brings the fintech’s total raise to $15 million within a year.
Helu.io was founded in 2020 by Franz Salzmann. The company aims to support financial managers in SMEs in automating their financial controlling and reporting processes. The target group here is those companies in which Excel is still primarily used for evaluation and reporting.
According to its statements, one asset of the software developed by Helu.io is the simple interaction with the accounting software DATEV, which is frequently used in companies. Helu.io promises to help companies convert even complex financial data into customized and easy-to-understand reports at the click of a mouse.
“Financial reporting and controlling is still a manual process in many medium-sized companies worldwide. We want to automate this work and make it possible with just a few clicks.” -said Franz Salzmann, founder and CEO of Helu.io.
Helu.io plans to expand its offering with a budget planning module with the completed funding round. Starting next year, SMEs will then be able to map additional budgeting and controlling processes with the software.
“With the latest round of financing, we can achieve a large part of our goals and continue to set a new standard in this category,” Salzmann continued.
