Berlin, October 24, 2022 – Circula, the successful software-as-a-service fintech based in Berlin with offices in Leipzig and Dusseldorf, now also offers Spanish companies access to its software platform for travel and out-of-pocket expenses and employee benefits. In 2017, Circula was founded by Nikolai Skatchkov and Roman Leicht with the goal of providing companies and their employees with a holistic app focused on employee expenses. Consisting of expense management, employee benefits, and a corporate credit card, the software suite helps reduce bureaucracy in everyday business by up to 80% in administrative time. In Germany, more than 100,000 employees and over 1,200 international customers such such as Urban Sports Club, Securitas and ABOUT YOU already use the Circula app. After growing more than 250% in the last 12 months, the Berlin-based fintech is taking the next big step in its successful journey by entering the Spanish market.
Conquering the Spanish market from Barcelona
As in Germany, over 2.5 million small and medium-sized enterprises form the backbone of the Spanish economy. Apart from the Scandinavian countries, Spain has one of the highest levels of digitalization within the EU, according to the Digital Economy and Society Index 2022. "Spain is not only one of the largest economies in Europe, but clearly also a digital pioneer. Both facts that have significantly influenced our strategic decisions to adapt our product and enter the Spanish market. Circula's digital employee expense solution addresses exactly this need for time-saving and paperless processes," said Nicolai Skatchkov, Co-Founder and CEO at Circula. "Spanish employees not only demand digital processes in their daily office life, but also appreciation from employers. At Circula, we have recognized this contemporary demand for employee benefits and integrated it as an important component in our holistic Employee Finance App. With the help of digitalized processes, we not only increase employee productivity, but also help companies save money every year. With our solution, we ensure greater satisfaction overall for everyone involved." For Spanish companies, Circula offers the fully digital expense and travel solution, with portfolio extensions, such as corporate credit cards and employee benefits, already in the planning stages, according to the co-founder. To also serve the market directly on the ground, Circula has a local go-to-market team in Spain, which moved into its Barcelona office on Oct. 10. From there, the team is already serving its first customers, such as the Blacklane chauffeur service and Urban Sports Club.
A strong partner on their side: Circula partners with TravelPerk
In order to gain a sustainable foothold in the Spanish market, Circula has enlisted the support of an established partner. TravelPerk, the largest global travel management platform and market leader for business travel in Spain, offers Circula, a platform to reach their target group. "Spanish companies are very concerned about providing a first-class working environment for their employees. That's why we at TravelPerk are continuously adding more partners to our marketplace. Working with Circula allows us to provide an end-to-end experience for Spanish SMEs with a focus on ease of use, automation and local compliance," says Jean-Christophe Taunay-Bucalo, Chief Revenue Officer at TravelPerk. Nikolai Skatchkov adds, "With a strong partner like TravelPerk on our side, we are well prepared for the kick-off in the Spanish market. We are motivated and looking forward to the new challenges that come with a market entry."
Circula is a software-as-a-service fintech based in Berlin, Germany, offering their customers a comprehensive employee finance solution that, for the first time, combines fully digital accounting of employee expenses, travel expenses, digital employee benefits, and a smart corporate credit card into one product. Circula software is optimised for seamless embedding into existing finance and payroll processes and tech stacks. Circula was founded in 2017 by Nikolai Skatchkov and Roman Leicht in Berlin. As part of its internationalization strategy, Circula now serves Spain and the Netherlands in addition to the German market. In total, the company has raised more than €20 million from investors such as ALSTIN Capital, Peak, Storm Ventures, Capnamic, Main Incubator, WENVEST, Finparx and HW Capital. Circula's 1,200 customers (as of June 2022) include DATEV, ABOUT YOU, Ebner Stolz, DFL, McMakler, Urban Sports Club, Infarm and Orthomol.
Karolin Böhm / Julia Molle
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