Helu.io, a budgeting and financial reporting platform for small- to medium-sized businesses (SMBs), announced the close of its Series A funding round, which raised over 9.8 million euros ($10 million).
The round was led by CommerzVentures, alongside tech-focused venture capital firm IRIS and early-stage investor Speedinvest, according to a Wednesday (July 27) LinkedIn post by the company.
Founded in 2020 by Franz Salzmann, the Vienna-based FinTech serves CFOs and financial managers of SMBs by automating the financial controlling and reporting processes.
“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 said.
The latest funding means that to date, Helu.io has raised around 14.8 million euros ($14.9 million). The company intends to use the fresh capital to expand its product offering.
Helu.io is a FinTech firm focused on building accounting and business management tools specifically for SMBs. Platforms like Helu.io and Monite are increasing SMBs’ ability to automate processes by packaging automation tools specifically for the SMB market.
Read more: Monite, Codat Team to Allow Embedded Invoices, Bill Payments in Apps
FinTech Monite recently announced a new partnership with Codat to incorporate accounts payable (AP) and accounts receivable (AR) capabilities into existing apps.
Monite and Codat’s collaboration will enable Software-as-a-Service platforms and financial institutions to integrate invoicing and billing capabilities into their apps to create a unified offering for businesses to manage their operations and finances.
For all PYMNTS EMEA coverage, subscribe to the daily EMEA Newsletter.