Vienna-based financial reporting startup Helu.io has netted $10 million in Series A funding. The investment round was led by fintech specialists CommerzVentures, alongside tech-focused VC IRIS and early-stage investor Speedinvest (which invested in Charles.co, Flowdesk and Stotles). With this round, the company’s total funding raised in the last 12 months to $15 million.
Budget planning module incoming
The proceeds of this round will allow Helu.io to expand its product offering with a budget planning module launched in 2023. It will enable CFOs of SMEs to set up a seamless experience throughout the budgeting, controlling and reporting processes.
Stefan Tirtey, CommerzVentures Managing Partner, said: “Helu.io has created a standout, powerful and easily integrated solution which allows SME’s and advisors to gain full control of financial data, removing the need for manual processes. Saving time and money empowers finance leaders to make better informed business decisions faster.”
Franz Salzmann, Founder and CEO of Helu.io, commented: “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.”
Thorben Rothe, Partner at IRIS, added: “This new round confirms Helu’s ambitions to become Europe’s standard for CFOs to manage their financial data smoothly. We believe that empowering finance managers and their teams is key to optimizing processes in any medium-sized company.”
Automates financial reporting
Helu.io was founded in 2020 by serial entrepreneur and unicorn investor Franz Salzmann in Vienna. The company helps CFOs and financial managers of SMEs to automate their financial controlling and reporting processes.
The company aims to become Europe’s standard for SMEs around reporting, controlling and budgeting.
The startup supports businesses who are manually building excel sheets, merging accounting with non-financial data. They often do not have full access to their accounting data with a click, which Helu provides. Through their easy-to-use software, the startup wants to become the standard for financial controlling and reporting by integrating into accounting softwares and enabling companies to transform their complex financial data into individual and easy-to-understand reports in a short time.