What Circit does

Circit is a Dublin-headquartered financial audit management platform that provides independent verification services connecting audit firms, banks, and corporate clients. Founded in 2017, the company operates a multi-module SaaS platform consisting of three core products: Confirm (audit confirmation request management with direct bank connections), Verify (independent bank data verification at source), and Engage (client collaboration workspace). The underlying technology relies on open banking API connectivity to a Provider Network spanning over 30,000 banks and evidence providers, enabling source-verified audit evidence rather than relying on client-provided data. The platform is regulated by the Central Bank of Ireland (C176625) and the UK FCA (989346) for payment services, PSD2 compliant, and certified to ISO 27001:2022 and SOC 2 Type 2.

The company serves 400+ audit firms including all Top 20 global audit networks (KPMG, PwC, BDO, Grant Thornton, Forvis Mazars, Crowe, MHA, Menzies, and others), alongside financial institutions (Danske Bank, AIB, Bank Austria, Raiffeisen Bank) and fund service providers. Verified scale metrics include 150,000 corporate entities with assets and liabilities verified and over 100 million transactions independently verified in the past year. Customer-reported outcomes include 80% reductions in bank confirmation turnaround times and 4 hours saved per client on average.

Circit generates revenue through a SaaS subscription model with transaction-based verification fees, sold via direct enterprise field sales with quote-based pricing. The company has raised approximately $30 million across multiple rounds including a $22 million growth equity round in February 2026 led by Ten Coves Capital with participation from Aquiline and MiddleGame Ventures. Operations span four offices: Dublin (HQ), New York (US headquarters), London, and Germany. The team of 51-100 employees is planned to double over two years as part of US expansion. Leadership includes founder and CEO David Heath, COO David O'Connor, and Chief Partnerships Officer Conor McAleavey.

Name

Circit

Legal name

Circit Limited

Website

https://circit.io

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Circit provides a multi-module SaaS platform—Confirm, Verify, and Engage—connecting 400+ audit firms including all Top 20 global networks to over 30,000 banks and evidence providers for source-verified financial audit evidence.

Ownership category

akta.pro rank

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Platform Subscription: SaaS platform providing audit confirmation and verification services to audit firms, financial institutions, and fund service providers. Revenue generated through platform access and transaction verification fees.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Circit provides a SaaS platform that connects banks, accounting firms, and their clients during financial audits to digitally confirm and verify financial information. Its three modules—Confirm, Verify, and Engage—replace manual audit confirmation processes with source-verified, AI-enabled digital workflows, reportedly reducing turnaround times by approximately 80%.

Product overview

Circit offers a multi-module SaaS platform for audit confirmations and financial data verification. The core platform consists of three integrated modules: Confirm (manages and automates confirmation requests at scale), Verify (independently verifies bank data directly from source), and Engage (provides one workspace for client engagement from request to completion). These are built on an API Network for technical bank connectivity and a Provider Network spanning over 30,000 banks and evidence providers. The platform enables auditors to replace manual email/PDF workflows with direct data connections, improving audit quality and reducing financial fraud risk. The company has invested in AI-powered workflows to automate processes and enable AI-enabled audits with verified bank data.

Differentiator

Problem solved

Functional benefit

Products and services

• Confirm Digital bank confirmation module that enables auditors and corporates to request and receive bank confirmations through Circit's network of 30,000+ banks, replacing manual paper confirmation letters.
• Verify Audit evidence verification module that uses AI-enabled workflows to source-verify financial data and supporting evidence for financial statement audits.
• Engage Client engagement module that connects auditors, corporate clients, and banks within Circit's platform to coordinate and manage audit confirmation workflows end-to-end.

Quantifiable outcome

• 80% reduction in bank confirmation turnaround times
• +4 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

One partnership is on record.

• RSM UKmajorStrategic or Co-development PartnerStrategic partnership to enhance audit quality and efficiency through innovative technology. RSM UK is a major accounting firm within the RSM international network.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Confirmation.com: The original digital audit confirmation network connecting auditors to banks and counterparties. Closest direct competitor to Circit's Confirm module, with overlapping global audit-firm customer base.
• DataSnipper: AI-powered audit automation platform embedded in Excel that automates confirmation matching and document testing. Competes directly with Circit for auditor workflows and is rapidly scaling among Big Four and mid-tier firms.
• AuditBoard: Cloud-based audit, risk and compliance management platform serving enterprise audit teams. Overlaps with Circit's Engage workspace and broader audit-collaboration use cases.

Emerging players

• MindBridge AI: AI-driven financial risk discovery platform for auditors and finance teams. Comparable in bringing AI-driven anomaly detection into audit workflows, though focused on transaction-level risk rather than bank confirmation.
• Trullion: AI-powered accounting and audit platform specializing in lease and revenue recognition data extraction. Adjacent competitor leveraging AI to automate evidence gathering for auditors.
• AppZen: AI platform for finance teams automating expense audit, invoice processing and AP controls. Comparable AI-driven audit automation play targeting the CFO and audit functions.

Broad incumbents

• Workiva: Public SaaS platform for SEC reporting, SOX, and audit-collaboration workflows. Overlaps with Circit on audit evidence management and is a broader incumbent in the financial reporting/audit stack.
• BlackLine: Public cloud platform for financial close, account reconciliation, and intercompany accounting. Comparable in serving the office of the CFO and feeding verified data into audit processes.
• FloQast: Close-management and accounting workflow platform used by mid-market and enterprise finance teams. Adjacent competitor for audit-preparation and reconciliation workflows feeding external audit.

Others

• Tidemark (now part of Workday): Cloud financial planning and analytics platform integrated into Workday. Adjacent incumbent providing source-verified financial data that feeds downstream audit and CFO workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Circit_io
• LinkedInlinkedin.com/company/circit-ltd.

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Circit