Sumary Raises $25 Million Seed Round to Scale Its AI Accounting Platform Across Europe

Copenhagen-based Sumary has raised $25 million in a seed funding round led by venture capital firm Singular, securing fresh capital to expand its AI-powered operating system for accounting firms across Europe.

The company describes the investment as the largest seed round for accounting software in Europe. Existing investors byFounders, Partech and Tenity also participated, alongside angel investors including Steve Anavi of Qonto, Tuomas Artman of Linear, Stanislas Polu of Dust, Steffen Tjerrild of Synthesia, Jannick Malling of Public.com and Ben Freeman of Omnea.

The funding comes less than a year after Sumary raised a $4.2 million pre-seed round. Since then, the company has moved from working with a small group of design partners to securing business with major accounting firms, including Deloitte, Grant Thornton and Baker Tilly.

Founded in 2025, Sumary is building an AI operating system designed to automate the operational work behind accounting services, allowing accountants to spend less time on preparation and more time advising clients.

An AI operating system for accounting workflows

Sumary's platform is designed to run core accounting processes across a firm's client base, including month-end financial closes, VAT returns and year-end preparation.

Rather than requiring accounting firms to replace their existing systems, the platform works across the ledgers and accounting software already used by their clients. It prepares the underlying work for accountants to review and approve, retaining professional oversight over financial outputs.

The company says firms using Sumary save more than 50% of the time previously spent on these workflows. After three months of use, firms have reported reducing the time required for monthly closes by approximately 50% and VAT returns by 75%.

Beyond workflow automation, Sumary's platform can reason across a client's financial information, including profit and loss statements, balance sheets and cash flow. Accountants can ask questions about a client's business and receive answers linked to the underlying transactions.

This creates an opportunity to move accounting services beyond compliance and periodic reporting towards more continuous financial insight and client advisory.

Major accounting firms drive early adoption

Sumary's commercial progress has been central to its latest funding round.

The company says it works with the majority of the 20 largest accounting firms in the Nordic region, with Deloitte, Grant Thornton and Baker Tilly among its customers. It also has firms operating across the UK and other European markets.

Its approach is built around working with established accounting practices rather than replacing them. As firms face growing workloads and shortages of qualified accounting professionals, Sumary aims to help them increase capacity without expanding headcount at the same pace.

The platform also incorporates a dedicated AI research capability based in Copenhagen. The team evaluates leading AI models against benchmarks built around real accounting tasks, while developing the supporting controls, context and verification processes required to make their outputs reliable.

This focus on accuracy and accountability is particularly relevant in accounting, where firms remain responsible for the financial work delivered to clients.

Deloitte Partner Mads Faurschou described the platform's capabilities as a superpower for accountants, reflecting the potential of AI to support professional work rather than simply automate isolated administrative tasks.

Singular leads investment alongside returning backers

The $25 million seed round was led by Singular, with continued support from Sumary's existing investors byFounders, Partech and Tenity.

The round also attracted a group of technology founders and executives as angel investors, including:

• Steve Anavi, Qonto

• Tuomas Artman, Linear

• Stanislas Polu, Dust

• Steffen Tjerrild, Synthesia

• Jannick Malling, Public.com

• Ben Freeman, Omnea

The investment reflects growing interest in vertical AI platforms that address specialised workflows in established industries. Accounting is a particularly relevant market, given the volume of recurring compliance and financial preparation work that remains dependent on manual processes.

For Sumary, the participation of existing investors alongside new industry operators provides additional backing as it moves into a larger European growth phase.

London becomes commercial hub as Sumary expands into Benelux

Sumary plans to use the new capital to accelerate its expansion across the UK and Europe, beginning with the Benelux region.

London will become the company's commercial hub, bringing its leadership closer to customers and the broader European accounting market. Co-founder and CEO Pascar Sivam is relocating to London, alongside co-founder and COO Frederik Skov Wacher, to lead the next phase of growth.

Copenhagen will remain the centre for the company's product, engineering and AI research operations.

The company also plans to expand its commercial and implementation teams, including the accountants who work directly with customer firms during deployment. Further investment in AI research will support the development and reliability of its accounting-specific technology.

Bringing AI into the next generation of accounting

Sumary's funding comes at a time when established accounting firms are under pressure to serve more clients, manage increasingly complex requirements and respond to competition from AI-native businesses.

The company believes automation can change how accounting firms allocate their time and resources. By transferring much of the preparation work to AI, accountants can focus more on interpreting financial information, advising businesses and building stronger client relationships.

The underlying opportunity extends beyond reducing the time spent on individual workflows. If accounting firms can make financial insights more accessible to a wider share of their clients, they may be able to expand the value of their services without proportionally increasing operational costs.

With major firms already using its platform and a new funding round supporting its European expansion, Sumary is positioning itself to become a technology partner for accounting practices adapting to an AI-driven operating model.

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About Sumary

Sumary is a Copenhagen-founded AI technology company developing an operating system for accounting firms. Its platform automates core accounting workflows, including month-end closes, VAT returns and year-end preparation, while allowing accountants to review and approve completed work. The company was founded in 2025 by Pascar Sivam, Bastian Schneider, Lucas Rantzau, Frederik Hvilshøj and Frederik Skov Wacher. Its customers include Deloitte, Grant Thornton and Baker Tilly.

Source: Sumary official announcement