Circula raises 4.3 million euros
The Berlin team has big plans. The number of customers of the travel expenses start-up is set to triple this year.
The Berlin start-up Circula has closed a financing round with 4.3 million euros, reports Gründerszene. The money comes from existing investors Capnamic Ventures and Main Incubator, with Wenvest Capital joining the team for the first time. Circula's valuation is now in the double-digit million euro range.
Circula offers companies a simplified and digital expense and travel expense report for employees. The start-up was founded in 2017. Its customers include Neobank N26, air cab manufacturer Lilium, the Federation of German Industries and pharmaceutical manufacturer Orthomol. Circula has around 400 customers.
Business recently slumped due to the coronavirus pandemic. According to the start-up, it recorded a decline of almost 70 percent. However, the goals for this year are ambitious: the number of customers is set to double, partnerships with tax advisors are to be intensified and DAX companies are to become customers.
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