Circula, a Berlin-based SaaS company streamlining corporate expense processes, has raised €15m to accelerate its market leadership in AI-driven finance tools.
The latest round was backed by existing investors Capnamic Ventures, Alstin Capital, Peak, and Storm Ventures, as well as strategic debt investor CIBC Innovation Banking. Previous investors also joined the round, doubling down on their support for the company.
Founded in 2018, Circula provides an AI-powered expense management platform designed to simplify how companies handle travel expenses, per diems, credit card transactions, and employee benefits. The software aims to boost compliance, reduce manual work, and improve user experience for finance teams and employees alike. Circula serves around 3,000 mid-sized and large clients including Aston Martin, DATEV, and Securitas, with over 150,000 end users across Europe.
With the new capital, Circula plans to enhance its AI capabilities and develop additional workflow features, especially to support international businesses.
Circula CEO and co-founder Nikolai Skatchkov said, “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. The additional financing is giving us the means to continue to build the best product in our category and to continue our path toward an effortless way to manage payments and business expenses. We are excited to build this future with existing investors and CIBC Innovation Banking.”
CIBC Innovation Banking director Charlotte Goggin said, “We are pleased to extend funding to Circula as it continues to build on its market-leading position in digital expense management across Germany. Up until 2019, German businesses were required to keep physical expense receipts.
“Now, in an age where businesses juggle digital receipts from most employees, Circula provides finance teams with AI driven tools to automate this process. We’re excited to see Circula take advantage of the growth opportunities that lie ahead.”
Peak managing partner Stefan Bary said, “With a best-in-class user experience, Circula makes expense management extremely easy for employees as well as the whole financial department, resulting in a quadrupled customer base since we first met the company in 2021. We are very pleased to double down on Circula considering the further growth that is expected from its current offering and even steeper growth that the company’s AI initiatives provide.”
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