LUTZ | ABEL advises CIRCULA on Euro 12 MIO. Series A round
Berlin — Circula GmbH (www.circula.com) successfully closed a EUR 12 million Series A financing round. The VC fund Alstin Capital, which is backed by entrepreneur Carsten Maschmeyer, as well as the VC funds Peak (Netherlands) and Storm Ventures (USA) joined the financing round. Investments were also made by existing shareholders, including Capnamic, WenVest Capital and Personio.
The Berlin-based software-as-a-service fintech is the first to combine fully digital employee expense reports, digital employee benefits and a smart corporate credit card into one product.
Circula is developing a comprehensive Employee Finance App that allows employees to digitally process expenses, such as out-of-pocket expenses and travel expenses, and employee benefits in a tax-compliant manner. In addition, employees receive corporate credit cards with real credit lines, cash backs and real-time statements that are fully integrated with Circula workflows. Circula software is optimized for seamless integration into accounting processes and complies with European tax standards.
Thanks to the continuous expansion of the product, the start-up run by the two founders Nikolai Skatchkov and Roman Leicht has recently been able to significantly increase its customer and revenue base. Circula’s approximately 1,000 customers include Ebner Stolz, DFL, McMakler, Infarm and Orthomol.
Consultant Circula : LUTZ | ABEL
The team consisted of Dr. Lorenz Jellinghaus, photo © LUTZ | ABEL (lead), Constanze Hachmann and Maximilian Franz (all VC, Hamburg).