The investment is co-led by financial technology specialist investors Aquiline Technology Growth (ATG) and MiddleGame Ventures (MGV).
Circit helps auditors to verify company assets and liabilities in real-time, and at source. The platform is directly regulated for Open Banking under the PSD2 regulation, removing paper processes and outdated systems to deliver time saving for all stakeholders in the audit process, as well as reducing the risk of corporate fraud in global markets.
Circit will use the funds to continue expanding its offering to users on all sides of the platform, and to invest in accelerating the network effects that have been created by global organisations joining as customers.
The company is also announcing plans to broaden its UK and Ireland operations, doubling headcount from 35 to 70 over the next 12 months, and continuing its expansion into several new international markets.
Founded in 2017, Circit standardised electronic audit confirmations in accounting firms and created a network of validated banks, lawyers, large corporates, and SMEs who joined the platform to communicate with auditors during their complete search of a company’s banking arrangements and potential legal liabilities held on its balance sheet.
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