Fintech Startup Nabs €9.8M To Simplify Financial Procedures For SMEs

July 27, 2022 | 2 minutes read

Vienna based fintech startup has grabbed funding of €9.8M to streamline the financial processes for SMEs.

To make SMEs autonomous in their financial processes the fintech startup has just announced over €9.8M in fresh funding. In a Series A round led by Commerz Ventures, alongside IRIS and early stage investor Speed invest.

Fintech in Europe especially for SMEs has proved to be quite fruitful mainly because of the efficiency in management of financial processes. This is one of the main reasons that this region is witnessing the exponential growth in the fintech startup sector. Such as B2B payment platform Hero  etc.

Another reason fintech has emerged as a strong player in the market is because of the opportunity of financial inclusion for everyone. Also, disrupting the traditional banking sector, as per stats by the end of this year fintech sector is expected to reach $309.98 billion by the end of this year.

Now  founded in 2020 by unicorn investor Franz Salzmann, with its fresh funds and noble cause of  including SMEs in the financial net is here to disrupt the industry. The startup is allowing the SMEs to manage financial controlling, budgeting and reporting. With its easy to use software, Helu integrates into accounting software allowing companies to transform their complex financial data into individual and easy to understand reports in a short time.  As Salzmann talking to EU startups said:

“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.”

Salzmann is right many small businesses across Europe are still manually maintaining and building the excel sheets, merging accounting with non-financial data-meaning the processes are lethargic and more cumbersome than they need to be. however gives SMEs full access to accounting data in just one click.

The fresh Series A boost now brings the company’s total funds  up to €14.8 million. The company however is planning to expand its Viennese company with a budget  planning module launched in 2023.