Germany-based fintech Circula has announced the expansion of its business activities to Spain.
Germany-based fintech Circula has announced the expansion of its business activities to Spain.
Circula is software-as-a-service fintech based in Berlin and now gives Spanish companies access to its software platform for expenses, travel expenses and employee benefits. The Circula software is optimized for integration into existing financial and payroll processes as well as technical stacks.
As part of its internationalization strategy, Circula now also serves Spain and the Netherlands in addition to the German market. In total, the company managed to raise more than 20 million euros from investors such as ALSTIN Capital, Peak, Storm Ventures, Capnamic, Main Incubator, WENVEST, Finparx and HW Capital.
Fintech aims to offer businesses and their employees an app for all aspects of employee spending. The offer consists of expense management, employee benefits and a company credit card. In Germany, over 100,000 employees already use the Circula app. The more than 1,200 international customers include companies such as Urban Sports Club, Securitas and OM DEG.
Circula in Spain
According to a Circula representative, Spain, as one of the largest economies in Europe, influenced fintech’s strategic decisions on product customization and the Spanish market. At Circula, they have implemented the desire for employee benefits in their comprehensive Employee Finance App.
The fintech currently offers a fully digital expense and travel invoicing solution for Spanish companies, but portfolio extensions such as corporate credit cards and employee benefits are already being planned. In order to serve the market directly on the spot, Circula now has a local go-to-market team in Spain.
Circula collaborates with TravelPerk
Previous collaboration with pliant
In October 2021, Circula and pliant started a collaboration for business credit cards. This business credit card for Circula has a real credit limit. Invoicing takes place in real time, so that expenses can be transferred directly to financial accounts and the bookkeeping is done within seconds. The offer also includes a cashback of up to 1.0% on all expenses, attractive exchange rates, flexible digital card management for all employees, and integration into Circula workflows and tax treatment of expenses and travel expenses.
