HR 7409 (7 Vul) is a newly identified Be star, possibly part of the Gould Belt, and is the massive component of a 69‐d spectroscopic binary. The binary parameters and properties of the Be star measured using high‐dispersion spectra obtained at Ondřejov Observatory and at Rozhen Observatory imply the presence of a low‐mass companion (≈0.5–0.8 M⊙). If the pair is relatively young (<50–80 Myr), then the companion is a K V star, but, following another, older evolutionary scenario, the companion is a horizontal branch star or possibly a white dwarf star. In the latter scenario, a past episode of mass transfer from an evolved star on to a less massive dwarf star would be responsible for the peculiar nature of the present‐day, fast‐rotating Be star.