French fintech Hero gets 11.3 million euros

Based in Paris Heroa new fintech startup offering an all-in-one platform for accepting payments and managing cash flow, announced that it has secured €11.3 million in funding to fill gaps in financial solutions for small and medium-sized businesses ( SMEs).

The company raised 7 million euros in 2022 and announced on Thursday 20 June that it had raised 11.3 million euros from Valar Venturesa venture capital firm backed by Peter Thiel, and SquareOne Venture Capitalwho have supported the company since the first round.

A single platform for payments and business financing

Unlike larger companies, SMEs often have difficulty finding financing options for payment terms, as traditional banks are slow to adapt to their needs.

Founded in 2021 by Roland Jais-Nielsen, Hero aims to simplify financial services for small businesses in France by aggregating fintech and banking solutions into one comprehensive product.

In addition to basic business registration and bank accounts, small business owners often need to manage payments, finance inventory, and manage loans. Hero’s integrated platform offers multiple accounts, IBANs, payment cards and access to short-term financing, aiming to simplify financial management for entrepreneurs.

Use of capital

With this new financing, Hero plans to expand its offering of flexible financial products tailored for SMEs by integrating them with comprehensive payment solutions.

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Furthermore, the funding will fuel Hero’s expansion into key European markets, with the aim of becoming a leading provider of purpose-built fintech services for very small businesses (VSEs) and small and medium-sized enterprises (SMEs).

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