Circit, an audit confirmation and financial data verification platform, has raised $22 million in growth equity funding to scale its global verification network and support continued growth, including expansion in the U.S.
The financing was led by Ten Coves Capital, with participation from existing investors Aquiline and MiddleGame Ventures. Circit said the investor group brings experience backing enterprise technology businesses that support audit, tax, and regulated financial services workflows.
Circit positioned the raise as coming after a year of accelerated adoption. The company said its platform is now used by more than 400 audit firms, including all of the Top 20 global audit networks, and that its verification network spans more than 30,000 banks, fund service providers, and other evidence providers. Over the past year, Circit said it facilitated confirmations for 150,000 corporate entities and independently verified, on average, more than 100 million transactions.
Circit’s core pitch is replacing manual, client-provided audit confirmation workflows with direct, source-verified evidence delivered through a secure, API-driven network that connects auditors with financial institutions, law firms, and corporates. The company said the shift is increasingly important as audit committees and large corporates push auditors to adopt AI-enabled technology to improve audit quality and economics through real-time, verified audit data, and as the industry moves toward more continuous and agentic workflows.
The company plans to use the new capital to invest in product innovation, including AI-powered workflows across stakeholders in its confirmations network, deepen bank API connectivity, and expand go-to-market and customer success efforts, with a particular focus on the U.S. Circit also said it plans to double its team over the next two years.
Founded in 2017, Circit describes itself as an audit confirmation, data validation, and client collaboration platform that converts manual confirmations and unstructured client-provided data into structured, independently verified audit evidence. The company said it is regulated as an Account Information Service Provider by the Central Bank of Ireland, as well as in the U.K., the EU, and Australia.
KEY QUOTES:
“We’re pleased to welcome Ten Coves and to partner with investors who understand the long-term importance of modernizing audit infrastructure. 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. Circit was built to change that—by giving auditors direct, independent access to confirm all asset and liability types on corporate balance sheets. As financial infrastructure evolves through open banking, API access, and digital asset frameworks such as the GENIUS Act, Circit is building the verified data infrastructure to power AI-driven audit testing and workflows.”
David Heath, Co-Founder And CEO, Circit
“Circit is delivering critical infrastructure for the audit profession at a time of profound industry change. Circit’s network-driven model, deep auditor adoption, and API-first architecture position it to become the trusted verification layer powering modern audit and compliance workflows globally.”
Steven Piaker, Managing Partner, Ten Coves Capital
“Repeated, high-profile audit failures have underscored the systemic risk of relying on unverified, client-provided data. Circit addresses this challenge head-on by enabling independent, real-time verification at scale across the audit ecosystem. At Aquiline, we focus on building businesses that matter by backing teams solving fundamental industry problems and supporting them as they scale globally. Circit is building critical verification infrastructure for the future of audit, and we’re excited to continue supporting the team as they expand the platform’s reach and impact across the industry.”
Giovanni Nani, Head Of European Venture, Aquiline
“Circit is operating at the intersection of powerful financial services trends — the digitization and automation of data augmented by differentiated AI tools that facilitate a global network to transact and manage risk in a faster and more secure manner.”
Patrick Pinschmidt, Co-Managing Partner, MiddleGame Ventures
