German FinTech Circula Raises €15M to Revolutionize AI-Powered Expense Management Solutions
Circula, a leading Berlin-based SaaS company, has successfully raised €15 million to further enhance its position in the competitive landscape of AI-driven finance tools. This funding round received strong support from existing investors including Capnamic Ventures, Alstin Capital, Peak, and CIBC Innovation Banking, who have reaffirmed their commitment to the company’s vision.
About Circula and Its Innovative Solutions
Founded in 2018, Circula offers an advanced expense management platform powered by Artificial Intelligence. This software is designed to streamline how businesses manage:
- Travel expenses
- Per diems
- Credit card transactions
- Employee benefits
Circula helps organizations enhance compliance, minimize manual tasks, and improve user experience for both finance teams and employees. The platform is currently utilized by around 3,000 mid-sized and large clients, including prestigious names like Aston Martin, DATEV, and Securitas, boasting over 150,000 end users across Europe.
Plans for Future Growth
With the newly acquired capital, Circula aims to:
- Enhance its AI capabilities
- Develop additional workflow features
- Support international business operations
Circula’s CEO and co-founder, Nikolai Skatchkov, expressed enthusiasm about the potential of AI in finance, stating, “Over the last year, we have witnessed firsthand the potential that AI is unlocking in the finance department. We are excited to bring our vision of an AI-driven expense solution to the market in the upcoming months.”
Industry Insights and Investor Support
According to Charlotte Goggin, director at CIBC Innovation Banking, “We are pleased to extend funding to Circula as it continues to build on its market-leading position in digital expense management across Germany.” She highlighted the importance of adapting to the digital age where businesses manage receipts electronically.
Stefan Bary, managing partner at Peak, also commented on Circula’s growth trajectory, noting, “With a best-in-class user experience, Circula makes expense management extremely easy for employees as well as the whole financial department.” Since 2021, the company has experienced a quadrupled customer base, demonstrating the demand for its innovative solutions.
For more information about Circula and its offerings, visit their official website at Circula.
