If using a text layer is ok, then go with as shown by denzjos
What if you need to use a logo.
it is possible to get a sort of result using Gimp and the gmic plugin interactive warp filter, but needs a bit of practice and some (plenty) hands on editing to make the characters look reasonable.
So I suggest using Inkscape,
http://www.inkscape.org , a vector editor, as an intermediary to create a deformed path. Nothing complicatd but it is tedious. The work flow goes:
Gimp
make selection - selection to path - copy the path
Inkscape
paste the (gimp) path - make it a pattern - copy it
make a circle - use path effects, pattern along path
copy the new path
Gimp
Paste the new path into paths dock - adjust position - fill with colour.
5 minute video (long one for me)
https://youtu.be/IbRFCM3FtGQ