Financial management platform Helu raises $5 million

Vienna’s financial reporting and due diligence management platform Helu secured $5 million in seed funding. The service aims to simplify accounting data and present SME CFOs and M&A advisors with easy-to-digest, yet comprehensive, financial insight down to the lowest booking level.

Helu was founded in 2020 by former speedinvest partner Francois Salzmanand given his connections, I can say with some degree of confidence that Helu was born out of a wish list of tools he wished he had at the time.

“We are delighted to have the founders of some of Europe’s leading unicorns supporting us, as they fully understand how difficult it is for small and medium-sized businesses to present financial reports in a truly simple, clear and consistent way”, Salzmann said. “This was a major problem that I often encountered as an investor when seeking financial information from portfolio companies. I realized that financial teams had to work long hours to collect data on multiple spreadsheets and ultimately their company image was still incomplete.”

Currently, Helu relies heavily on DATEV, and streamlines multiple sets of financial data into one customizable dashboard. From this dashboard, simply drag and drop accounts to create P&L statements, cost center views, marketing analytics, and/or debtors and creditors reports.

Helu’s $5 million seed round was led by Atlantic Laboratories and saw the participation of a number of angel investors, including Marco Rodzynek (founder of the Noah conference), Fabien Westman (founder of wefox), Eric Demuth (founder of Bitpanda), Gilad Novik (former partner of Lakestar), Christopher Mayor (Atlantic Laboratories), Olivier Manojlovich (VP Sales at Personio), and other undisclosed individuals.

Geraldine L. Melton