Copenhagen-based Sumary has raised $25 million in Seed funding to expand its AI accounting software across Europe. The round was led by Singular, with participation from existing investors byFounders, Partech and Tenity.
Angel investors joining the round include Tuomas Artman (Linear), Steve Anavi (Qonto), Stanislas Polu (Dust), Steffen Tjerrild (Synthesia), Jannick Malling (Public.com) and Ben Freeman (Omnea). The financing follows a $4.2 million Pre-Seed round announced in 2025, bringing Sumary’s disclosed funding to $29.2 million.
Founded in 2025 by Pascar Sivam (CEO), Bastian Schneider (Chief Bookkeeper), Lucas Rantzau (Chief Product and Technology Officer), Frederik Hvilshøj (Chief Scientist) and Frederik Skov Wacher (COO), Sumary develops an AI operating system for accounting firms. Its customers include Deloitte, Grant Thornton and Baker Tilly, alongside several major accounting practices in the Nordic region.
Automating Accounting Workflows With AI
Accounting firms spend considerable time preparing financial statements, reconciling transactions and checking client records before submitting reports. Much of this work involves moving between accounting systems, reviewing supporting documents and verifying that financial information is complete.
Sumary’s platform automates parts of these processes, including month-end closes, VAT returns and year-end accounts. It connects to the accounting ledgers firms already use, allowing accountants to review AI-generated work without migrating to a new accounting system.
The software also supports financial analysis. Accountants can ask questions about a client’s profit and loss statement, balance sheet or cash flow and trace the answers back to individual transactions. According to Sumary, customers save more than 50% of the time previously spent on the workflows covered by its platform.
To improve the accuracy of these processes, the company maintains an AI research team in Copenhagen that evaluates models against an internal benchmark of accounting tasks. Its work focuses on providing models with the appropriate financial context and identifying errors before accountants approve the results.
$25M Seed to Support European Expansion
Sumary plans to use the new investment to expand its customer base among large accounting firms, with the Benelux region identified as its next market. The company already works with customers across the Nordics and the UK and is establishing London as its commercial hub.
Co-founders Pascar Sivam and Frederik Skov Wacher are relocating from Copenhagen to London to oversee commercial operations, while product development, engineering and AI research will remain in Denmark.
The funding will also support hiring across commercial and technical roles, including forward-deployed accountants who work directly with customers to implement the software. Sumary intends to continue developing its AI capabilities to handle more accounting tasks while keeping professional accountants responsible for reviewing and approving the output.
The round was led by Singular, with byFounders, Partech and Tenity returning after the company’s earlier financing. Sumary has also announced plans to introduce further product developments on November 12, 2026.
