Circula

Circula is a SaaS platform that features a tax-optimized employee benefits suite (e.g., digital meal vouchers and travel benefits) as well as products to manage employee expenses and corporate credit cards. Circular’s meal vouchers enable employers to subsidize employee meals as a salary increase or a conversion up to EUR 6.7 (~USD 7.5) per day. The company claimed this was 50% cheaper than a conventional salary increment, as employer contributions to meals are partly tax-free. 

Once the employees scan and submit meal or travel receipts using the app, Circula audits the receipts, calculates the reimbursements, and creates the files for monthly payroll in compliance with German tax laws. Additionally, in January 2024, the company launched its first fully digital corporate card allowing for centralized expense management.

The company generates revenue via monthly subscriptions per license, priced at EUR 10-15 (~USD 11-16).

Key customers and partnerships

As of May 2024, the company’s platform was used by over 1,700 enterprises, including notable brands such as Five Guys, Omio and Amorelie.

Funding and financials

In its most recent funding round (January 2022), Circula raised EUR 12 million (~USD 13.5 million) in a Series A round with participation from Alstin Capital, Peak, and Storm Ventures. Funds were earmarked to invest in recruitment, product development, and expansion across Europe - starting with the Netherlands in 2022.