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German fintech Circula expands to Spain

Tuesday 25 October 2022 15:44 CET | News

Germany-based fintech Circula has announced expanding its business activities to Spain.

 

Circula is software-as-a-service fintech based in Berlin and is now giving Spanish companies access to their software platform for expenses, travel expenses, and employee benefits. The Circula software is optimised for embedding in existing financial and payroll processes as well as tech stacks. 

As part of its internationalisation strategy, Circula now also serves Spain and the Netherlands in addition to the German market. In total, the company was able to collect more than EUR 20 million from investors such as ALSTIN Capital, Peak, Storm Ventures, Capnamic, Main Incubator, WENVEST, Finparx and HW Capital.

The fintech aims to offer companies and their employees an app for all aspects of employee expenses. The offer consists of expense management, employee benefits, and a company credit card. In Germany, over 100,000 employees are already using the Circula app. The more than 1200 international customers include companies such as Urban Sports Club, Securitas, and ABOUT YOU.

Germany-based fintech Circula has announced expanding its business activities to Spain to offer companies access to their software platform for expenses, travel expenses, and employee benefits.

Circula in Spain

According to a Circula representative, Spain being one of the largest economies in Europe influenced the fintechs strategic decisions on product customisation and the Spanish market entry. At Circula, they have implemented the desire for employee benefits into their holistic Employee Finance App.

The fintech currently offers a fully digital expense and travel expense solution for Spanish companies, but portfolio expansions such as company credit cards and employee benefits are already being planned. In order to be able to serve the market directly on-site, Circula now has a local go-to-market team in Spain.

Circula cooperates with TravelPerk

In order to gain a foothold in the Spanish market, Circula has partnered with TravelPerk, a global platform for travel management, which offers Circula a platform to reach their relevant target group. According to a TravelPerk representative, working with Circula allows them to offer an end-to-end experience for Spanish SMEs with a focus on usability, automation, and local compliance.

Previous partnership with pliant

In October 2021, Circula and pliant started a cooperation for corporate credit cards. This company credit card for Circula has a real credit line. Invoicing takes place in real time, so expenses can be transferred directly to financial accounting 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-compliant processing of expenses and travel expenses.

Source: Link


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Keywords: expansion, partnership, payment processing, credit card, fintech
Categories: Payments & Commerce
Companies: Circula
Countries: Germany, Spain
This article is part of category

Payments & Commerce

Circula

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