Austrian financial reporting platform Helu has raised €9.8 million in funding, which will be utilized to expand its product offering. The aim is to develop a budget planning digital tool to enable CFOs of European SMEs to manage financial controlling, reporting, and budgeting seamlessly. Helu will launch this new digital tool in 2023. Instead of manually building financial Excel sheets and merging accounting with non-financial data, the new budget planning module will automate financial controlling and reporting processes. CommerzVentures led the round alongside venture capital firm IRIS and early-stage investor Speedinvest. Earlier in 2021, Helu had already secured US$5 million in seed funding.
