When is a business model considered circular? A fund with circularity in its name must answer this question. Andrew Shannon, Partner at Circularity Partners, gives us her answer. A benchmark market method is used to examine the behaviour of the portfolio company's customers. In addition, Andrew describes how the financing challenges of PaaS businesses can be overcome. This episode is the sixth in the series PaaS Decoded, 16 conversations about the fine details of product-as-a-service.