Berlin-based startup Circula has raised €15 million in an extended Series A round to advance its AI-driven expense management platform to build out autonomous finance workflows, deepening its platform’s utility for mid-sized businesses across Germany and Europe.
The round was backed by a roster of returning investors including Alstin Capital, Capnamic Ventures, Peak Capital, Wenvest Capital and Storm Ventures, along with financial support from CIBC Innovation Banking.
“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.”
Circula, founded in 2017 by Nikolai Skatchkov and Roman Leicht, offers a modular SaaS platform designed to streamline business expense management. Its key features include AI-powered receipt capture, automated tax-compliant data extraction and real-time booking verification.
With over 2,800 customers, Circula’s customer base includes companies like Aston Martin, About You, DATEV and Securitas. More than 150,000 employees across Europe currently use the platform to manage travel expenses, per diems, credit card transactions and employee benefits.
According to Circula, companies using its platform reduce manual effort by 80% and shorten monthly closing cycles by several business days—an increasingly critical advantage amid economic uncertainty and cost-cutting pressures.
The demand for digital expense solutions is underscored by research from ERP provider Diamant, which reports that only 8.8% of Germany’s mid-sized businesses have fully automated their expense workflows. Circula’s mobile-first approach aims to close that gap by reportedly capturing over 70% of expenses at the point of occurrence, pre-booking them with tax-relevant data, and cutting billing cycles to fewer than two days.
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.”
The company says its success is built on strong revenue growth and a disciplined approach to profitability—traits that have helped it weather the volatility of the current funding environment.
With this latest capital injection, Circula plans to enhance its AI capabilities and introduce further automation features tailored for finance teams.
