1.3 million euros for Circuly

The SaaS start-up from Bielefeld wants to grow further. Investors have shown confidence in the company with a second round of financing.

The start-up Circuly has raised its second round of financing in the amount of 1.3 million euros. The earlystage VC fund Neoteq Ventures from Cologne, the Paderborn-based technology fund OWL and unnamed business angels participated in this round. Existing investors, including Cologne-based VC Venista Ventures, are also increasing their investment.

Circuly offers webshops a software add-on that allows them to rent out their products as well. "With Circuly, we offer companies the opportunity to quickly and easily introduce a rental or subscription model in their own e-commerce store. This allows them to act cost-effectively and quickly without missing the market trend," says co-founder Victoria Erdbügger. Customers often forget how complicated a rental is compared to a sale. Circuly therefore offers a holistic solution. Among its customers are Fahrrad.de and the scooter rental company Tier.

Circuly wants to grow further and hire more employees, as well as expand sales and product development. The startup's team works entirely remotely and has an international footprint. "Until our seed round, I was the only German speaker on our team - English quickly emerged as the working language," says Erdbrügger. "This is now attracting international talent as well."