Luther advises travel expenses start-up Circula on financing round

Cologne – A venture capital team from Luther Rechtsanwaltsgesellschaft provided comprehensive legal advice to the travel expenses start-up Circula on a new EUR 4.3 million financing round.


The financing round was successfully completed at the beginning of February 2021. In addition to existing investors such as Capnamic Ventures and Main Incubator, Wenvest Capital, a private investment firm founded by its manager Bernd Wendeln, joined as a new investor.

The start-up, founded in 2017 with a business model consisting of digitally managing the travel costs and other expenses on behalf of corporate clients, was severely affected by the effects of the coronavirus pandemic. To counteract the slump, the founders, Nikolai Skatchkov and Roman Leicht, expanded Circula's portfolio last year to include further, crisis-proof services: in addition to using the travel expenses platform, clients can now manage their employees’ work-from-home equipment or lunch expenses, for example.

With this reorientation, the founders succeeded in doubling the number of customers in 2020 despite the coronavirus crisis, living up to the trust of their investors.

About Circula:

Circula is a B2B software-as-a-service company based in Berlin that offers companies an all-in-one app for employee expenses and benefits. The Circula software was developed in accordance with European tax standards and supports employees with handling their individualised expense and travel claims, as well as with tax-free benefits such as digital meal vouchers. Circula was founded in 2017 by Nikolai Skatchkov and Roman Leicht. In total, the company has raised several million euros in debt capital from investors such as Capnamic Ventures, Main Incubator, Wenvest, Finparx and HW Capital. Circula’s more than 400 customers (as of February 2021) include Ebner Stolz, the Federation of German Industries (BDI), N26 and Personio.

On behalf of Circula:

Luther, Corporate/M&A: Philipp Dietz, LL.M. (Partner), Fabian Mimberg, LL.M. (Senior Associate)

Luther, IP/IT: Adrian Freidank (Senior Associate)