How much did Sumary raise in its seed round?
Copenhagen-founded Sumary has raised $25 million in a seed round led by Singular, a deal the company says is the largest seed round for an accounting software company in Europe. The startup builds AI software that handles the routine work inside accounting firms.
Who invested in Sumary's $25 million round?
Existing investors byFounders, Partech and Tenity also took part. Angel investors include Steve Anavi of Qonto, Tuomas Artman of Linear and Steffen Tjerrild of Synthesia. The round comes less than a year after a $4.2 million pre-seed round in November 2025, which byFounders led.
Pascar Sivam, Sumary’s co-founder and chief executive, said accounting firms are being asked to do more with fewer people. “Software has to take on the preparation properly, so accountants can give their time to the people who depend on them: their clients and their own teams. That is what we have built. This round lets us bring that to firms across the UK and Europe much faster.”
What does Sumary's AI software do for accounting firms?
The software runs core tasks such as the monthly close, VAT returns and year-end preparation. It works across each client’s existing bookkeeping system, and an accountant reviews and signs off on every step. Sumary said firms that have used the product for three months spend 50% less time on a monthly close and 75% less on a VAT return.
A research team in Copenhagen built a benchmark of real accounting work. Sumary uses it to test which AI models are best at each task before they handle a client’s books.
The company said it now works with most of the 20 largest accounting firms in the Nordics. Its customers include Deloitte, Grant Thornton and Baker Tilly, and it has signed contracts with large UK firms it did not name. Mads Fauerskov, a partner at Deloitte, called Sumary’s AI and accounting workflows “a superpower every accountant deserves.”
The pitch rests on a large and labor-intensive market. Sumary estimates that Europe’s accounting firms earn about €133 billion a year in fees, yet much of that work is still done by hand. Firms also face staff shortages and pressure to serve more clients without hiring more people.
Sumary will use the money to grow across Europe. London will become its commercial hub, while Denmark remains the base for its technology and AI research. Sivam and chief operating officer Frederik Skov Wacher are moving to London, and the company is also expanding into the Benelux region.
Sivam said the goal is to help existing firms deliver customer value as good as, if not better than, that of newer competitors. “With the right technology, they can lead this transformation rather than be disrupted by it.”
Sivam co-founded Sumary with Bastian Schneider, a former McKinsey consultant like him, as well as Lucas Rantzau, Frederik Hvilshøj and Wacher. Jeremy Uzan, general partner at Singular, said the founding team is one of the strongest Singular has seen in Europe at this stage, and he described the company’s commercial momentum as “exceptional.”
Cet article a été rédigé avec l'assistance de l'IA.
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