Sumary raises $25 million for European expansion of AI accounting tools
The Copenhagen-founded startup plans a London commercial hub and expansion into Benelux, while keeping technology and AI research in Denmark.
Singular has led a $25 million seed investment in Sumary, which makes AI accounting software. The Copenhagen-founded company said the money will support European growth, including a London commercial hub and an expansion into Benelux.
The financing also drew existing backers Tenity, Partech and byFounders. Participating angel investors included Synthesia’s Steffen Tjerrild, Qonto’s Steve Anavi and Linear’s Tuomas Artman. Sumary called the deal Europe’s biggest accounting-software seed financing; byFounders previously led its $4.2 million pre-seed round in November 2025.
Chief operating officer Frederik Skov Wacher and co-founder and CEO Pascar Sivam are relocating to London. The company’s technology operations and AI research will stay in Denmark.
Sumary’s tools handle VAT returns, monthly closing tasks and preparation for year-end accounts through clients’ existing bookkeeping systems. Each stage requires an accountant’s review and approval. According to the company, firms using the tools for three months cut time spent on monthly closing by 50% and on VAT returns by 75%.
The company reported serving a majority of the Nordics’ 20 largest accounting firms, naming Baker Tilly, Deloitte and Grant Thornton among its customers. It also said large UK firms had signed contracts, but did not identify them.
To evaluate AI models before assigning them client bookkeeping tasks, Sumary uses a benchmark developed by a Copenhagen research team from real accounting work.
