Vienna-headquartered Helu.io secures €9.8m

Helu.io, a fintech firm, recently disclosed financing of more than €9.8 million (USD$10 million) in new capital. The Austrian company is developing a new system for managing financial controls, reporting, and budgeting for European SMEs.

Helu.io has completed the closing of its Series A fundraising and is on a quest to establish itself as the benchmark for SMEs in Europe in terms of reporting, controlling, and budgeting.

The round, which was headed by fintech experts CommerzVentures and included tech-focused VC IRIS and early-stage investor Speedinvest, saw the business get over €9.8 million.

The Vienna-based fintech, founded in 2020 by unicorn investor Franz Salzmann, assists CFOs and financial managers of SMEs in automating financial controlling and reporting activities, bringing those processes out of the analogue era and into the digital one.

Franz Salzmann, Founder and CEO of Helu.io, explained: “Financial reporting and controlling is still an enormously manual process in all medium-sized companies worldwide. We want to automate this work and make it possible with just a few clicks. With this latest financing round, we can look forward to achieving large parts of our goals and continue to set a new standard for this category.”