Circula Secures 15 Million Euros in Extended Series-A Round

Fundraising News
08.05.2025 05:35 pm

Efficient expense management is one of the daily challenges for companies worldwide. Especially in times of rigorous cash management requirements, the CFO office in the German mid-market plays a significant role in contributing to business success. Circula automates expense management with its modular platform, from automatic receipt capture and AI-powered verification of booking data to the tax validation of records. As a result, Circula reduces manual effort by an average of 80% and shortens monthly closing processes by several business days.

Through strong revenue growth and a clear focus on profitability, the company has raised 15 million euros in an extended Series A round. This round was led by existing investors Alstin Capital, Capnamic Ventures, Peak Capital, Wenvest Capital and Storm Ventures, as well as CIBC Innovation Banking. The additional capital will, among other things, drive the development of autonomous workflows to further increase efficiency in the CFO office.

AI-powered Expense Management of the next generation

According to a survey by ERP provider Diamant (2024), only 8.8% of medium-sized businesses in Germany have fully automated their expense management. With Circula's app-based solution, more than 70% of expenses are captured directly at the point of occurrence, and all data necessary for tax treatment is automatically extracted and pre-booked. This reduces the billing period by up to 90% (less than 2 days) and provides real-time visibility of liquidity.

Efficiency in Expense Management Redefined

Founded in 2017 by Nikolai Skatchkov and Roman Leicht, Circula has established itself as a leading provider in the field of expense management. With the new funding, the company will expand its AI capabilities and develop new workflow features.

Charlotte Goggin, Director of CIBC Innovation Banking, says: "Circula is transforming traditional paperwork into smart, AI-powered processes – setting new standards in digital expense management. We are excited to support this growth."

"We have a clear goal: to become Germany's AI-based champion in expense and spend management for small and medium-sized businesses," says Nikolai Skatchkov, CEO of Circula. "With hundreds of millions of euros in transaction volume, hundreds of thousands of active users, and the trust of countless tax advisory firms, we are in an ideal position to realize our vision of a seamless workday for finance teams in the coming years."