Danish AI accounting startup Sumary has raised €22 million ($25 million) in a funding round to support its expansion across Europe. The company provides an AI-powered platform that helps businesses manage accounting tasks. The round is reportedly the largest Seed funding round ever raised by an accounting software company in Europe.
The round was led by Singular, with participation from existing investors byFounders, Partech and Tenity. Several angel investors also joined the round, including Steve Anavi (Qonto), Tuomas Artman (Linear), Stanislas Polu (Dust), Steffen Tjerrild (Synthesia), Jannick Malling (Public.com) and Ben Freeman (Omnea).
Pascar Sivam, co-founder and CEO of Sumary, says: “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.”
Jeremy Uzan, General Partner at Singular, adds: “Sumary has one of the strongest founding teams we have seen in Europe at this stage and their commercial momentum is exceptional. They have combined deep AI research capabilities with an understanding of how accounting firms operate and are already winni ng the trust of some of the industry’s largest players. We believe Sumary has what it takes to become the defining AI platform for accounting in Europe.”
Founded in 2025 by Pascar Sivam (CEO) and Bastian Schneider (Chief Bookkeeper), alongside Lucas Rantzau (CPTO), Frederik Hvilshøj (Chief Scientist and former Lead ML Engineer at Encord) and Frederik Skov Wacher (COO), Sumary is a Copenhagen-based AI platform that helps accounting firms and finance teams automate workflows, verify financial transactions and get useful insights from financial data. The company works with most of the 20 largest accounting firms in the Nordic region, including Deloitte, Grant Thornton and Baker Tilly.
Sumary will use the funding to expand its business across Europe. London will become its main commercial centre, while Denmark will continue to lead its technology and AI research. Co-founders Pascar Sivam and Frederik Skov Wacher will move to London to lead the company’s growth in the UK. Sumary also plans to expand into other European markets, starting with the Benelux region.
