Dublin Fintech Circit Secures $22M to Revolutionize Financial Auditing with AI-Powered Verification Platform

In a major vote of confidence for the future of financial auditing, Dublin-based fintech innovator Circit has closed a $22 million growth equity funding round, positioning itself at the forefront of a technological transformation in how financial institutions verify and validate critical data.

The funding round, led by New York’s Ten Coves Capital, saw participation from existing investors Aquiline and MiddleGame Ventures, signaling strong continued support for Circit’s mission to modernize what many consider one of finance’s most antiquated processes.

The Problem Circit Was Built to Solve

For decades, financial auditing has relied on manual, paper-based confirmation processes that are not only time-consuming and expensive but also vulnerable to fraud. David Heath, Circit’s CEO and co-founder, doesn’t mince words about the current state of affairs: “Audit confirmations are fundamental to trust in financial reporting, yet the process has remained manual, costly, and fraught with fraud risk for both auditors and corporates.”

Heath’s frustration with this status quo led to Circit’s creation—a platform designed to fundamentally reimagine how auditors verify financial information. “Circit was built to change that by giving auditors direct, independent access to confirm all asset and liability types on corporate balance sheets,” he explains.

How Circit Works: Direct Connections, AI-Powered Verification

Circit’s platform represents a paradigm shift in financial verification. Rather than relying on phone calls, emails, and mailed confirmations, the platform creates secure digital connections between auditors and financial institutions. This direct connectivity enables real-time verification of financial data across thousands of banks and evidence providers.

The platform’s AI capabilities add another layer of sophistication, automatically detecting anomalies and potential fraud while improving the speed, quality, and reliability of the entire auditing process. This combination of direct connectivity and artificial intelligence addresses the industry’s twin challenges of efficiency and security.

Impressive Scale and Traction

Circit’s growth trajectory is nothing short of remarkable. The platform has already been adopted by more than 400 audit firms, creating a network that spans over 30,000 banks and financial evidence providers. In the past year alone, Circit verified 100 million transactions for 150,000 corporate entities—numbers that speak to both the platform’s capabilities and the industry’s readiness for change.

This scale is particularly impressive given that Circit was founded just seven years ago in 2017. The company’s rapid ascent has earned it recognition on Deloitte’s Technology Fast 500 list for 2025, placing it among the fastest-growing technology companies in the region.

Strategic Use of New Funding

With $22 million in fresh capital, Circit is poised to accelerate its growth across multiple fronts. The company plans to invest heavily in product innovation, enhancing its AI capabilities and expanding the types of financial data it can verify. Network connectivity will also receive significant investment, with the goal of onboarding more financial institutions and expanding the platform’s reach.

Perhaps most notably, Circit is doubling down on its US expansion efforts. The American market represents a massive opportunity for the company, given the size of its financial services sector and the regulatory emphasis on audit quality and fraud prevention.

Industry Validation from Top Investors

The caliber of investors backing Circit underscores the transformative potential of its platform. Steven Piaker, managing partner at Ten Coves Capital, sees Circit as “delivering critical infrastructure for the audit profession at a time of profound industry change.” This perspective reflects a broader recognition that traditional auditing methods are increasingly incompatible with the speed and complexity of modern finance.

Giovanni Nani of Aquiline emphasizes Circit’s role in building “critical verification infrastructure for the future of audit,” while Patrick Pinschmidt of MiddleGame Ventures highlights how the platform is helping to “facilitate a global network to transact and manage risk in a faster and more secure manner.”

The Bigger Picture: Fintech’s Role in Financial Infrastructure

Circit’s success represents a broader trend in fintech: the modernization of financial infrastructure that has remained largely unchanged for decades. Just as companies like Stripe revolutionized online payments and Plaid transformed data connectivity, Circit is tackling one of finance’s most fundamental processes—the verification of financial statements.

This transformation couldn’t come at a more critical time. With financial fraud becoming increasingly sophisticated and regulatory scrutiny intensifying, the traditional methods of audit confirmation are proving inadequate. Circit’s technology offers a solution that is not only more efficient but also more secure, addressing both operational and compliance challenges.

Looking Ahead

As Circit continues to scale its operations and enhance its platform, the company is well-positioned to become the standard for financial verification in the digital age. The combination of strong investor backing, proven technology, and clear market demand suggests that Circit’s vision of a more efficient, secure, and trustworthy auditing process is rapidly becoming reality.

For the thousands of audit firms and financial institutions already using the platform, Circit represents more than just a technological upgrade—it’s a fundamental shift in how financial trust is established and maintained in an increasingly complex and interconnected world.

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Dublin fintech company Circit has secured $22 million in growth equity funding to scale its financial auditing and verification platform.

The platform uses AI to reduce the risk of financial fraud and improve the data sharing, quality, speed and reliability of audits.

Circit’s platform offers audit confirmation, data validation and client collaboration by directly connecting auditors with banks and financial institutions.

The new funding will be used for product innovation, network connectivity and team expansion, especially in the US.

Circit is building critical verification infrastructure for the future of audit.

The platform is used by more than 400 audit firms across a network of more than 30,000 banks and other financial evidence providers.

Circit verified 100 million transactions for 150,000 corporate entities over the last year.

Audit confirmations are fundamental to trust in financial reporting, yet the process has remained manual, costly, and fraught with fraud risk.

Circit was built to change that by giving auditors direct, independent access to confirm all asset and liability types on corporate balance sheets.

Circit is delivering critical infrastructure for the audit profession at a time of profound industry change.

The financing round was led by New York’s Ten Coves Capital, with existing investors Aquiline and MiddleGame Ventures also participating.

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