Building the Employee Finance App – our €12M Series A

By Nikolai Skatchkov  -  Jan 31,   2022

  3 MIN READ

 

We are starting off the year with great news: We have completed our Series A round of €12 million with a set of fantastic investors. With fresh funding in the bank, we can now go full speed ahead and achieve our vision of becoming the leading Employee Finance App in Europe. 

At Circula, we work on a product that perfectly reflects the status quo in the new world of work, placing the employee at the center, valuing their time and rewarding them for their contributions.  We are changing the way businesses think about their finance processes regarding employees – moving from a traditional workflow-centric to an employee-centric approach.  Our product enables companies to provide tools designed for the new hybrid way of working.

Merging together the ideas from expense management and employee benefits is an exciting opportunity. We deliver value by increasing the productivity of employees, raising the disposable income of our users and driving automation and compliance in the finance and payroll departments. And it’s not just an idea anymore.

2021 has been a truly successful year for us as a company. We have grown to over 50 Circulators, experienced a 270% YoY revenue growth, have transitioned from being a single product (Expense Management) to multiple products (Employee Benefits & Corporate Card) and have laid the foundations in becoming the #1 Employee Finance App in Germany and beyond. 

We have moved from simplifying the daily life of travelers and accountants at startups towards being the tool of choice for SMBs and mid-market clients. Today more than 70% of our 1,000 customers are businesses from traditional industries – proving our product-market-fit to grow! Additionally, we won large clients such as Securitas, DATEV and DFL (German Football League). We are now seeing encouraging signs that businesses are willing to invest in an expense management solution with integrated tax benefit capabilities – representing our ultimate vision.

Evolving our vision towards making employee finances easy opens up many exciting opportunities. And now, we have the means to make it a reality. To build our product by adding further benefits verticals, launch our branded Circula Corporate Card and complete our offering for SMBs and mid-market clients that are seeking tools to create a great employee experience. 

Let’s roll!

 


Circula is the ideal partner for your expense management. Circula's expense management app makes it easy to account for all employee expenses - per diems, cash expenses, travel expenses, and out-of-pocket expenses. The intelligent Circula corporate credit card adapts perfectly to your business processes and offers further premium benefits with attractive cashbacks. In addition, Circula offers companies tax-optimized employee benefits such as the digital lunch benefits and a flexible mobility budget with which employees can be supported.

 

Get to know Circula

From expense management to employee benefits.
Try the all-in-one employee expense app.

Learn more

Book a demo