Circit, an Ireland-based fintech startup, announced on Thursday it secured €1.1 million in new financing for its audit confirmation platform. Founded in 2017, Circit describes itself as a financial audit management platform that provides real-time visibility of audit confirmations as well as direct connections to banks, solicitors, and fintech services.
“Circit has created a network of validated professional and financial services firms, all of which benefit from the highly secure software platform.”
While sharing more details about the platform David Heath, CEO of Circit, pointed out the latest drama with Wirecard, which he believes highlighted how balance confirmations are critical in preventing large scale of corporate failures:
“Circit’s platform is built for this very purpose, to help auditors obtain the evidence they need from an independent and validated source.”
The funding round was led by Commodore Investments with participation from Enterprise Ireland. Circit added that the round also saw participation from finance investors, Jim Brown, former CEO of Ulster Bank and John Power, former General Manager at AIB; as well as Peter Gray, ex-KPMG and CEO of ICON Plc.