Sumary Raises $25M Seed to Bring AI Accounting Across Europe
Copenhagen startup Sumary has raised $25 million in a Singular-led seed round to roll out its AI accounting operating system for firms across Europe.
SUMO· the number puzzle
Dialo· learn languages by speaking
ediviewer· read EDI files like documents
giftdetect· the right gift in minutesCopenhagen-founded startup Sumary has raised $25 million in a seed round led by Singular. Existing investors byFounders, Partech and Tenity also took part, as did angels 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 round follows a $4.2 million pre-seed closed less than a year ago.
Sumary builds an AI-powered operating system for accounting firms. It automates core work such as monthly financial closes, VAT returns and year-end preparation. The platform works across clients and their existing accounting systems, and it prepares tasks for accountants to review and approve, so professional oversight stays in place.
Why accounting firms are under pressure
European accounting firms still depend heavily on manual processes, while talent is scarce and clients expect more without larger teams. AI-native accounting firms are also emerging as new competitors to established practices.
According to the company, firms using Sumary report spending 50 per cent less time on monthly closes and 75 per cent less time preparing VAT returns after three months. The aim is to free accountants for advisory work, financial analysis and business decision-making. A Copenhagen research team supports the product with a benchmark that tests AI models against real accounting tasks, which lets Sumary verify outputs and evaluate new models before they reach client workflows.
CEO and co-founder Pascar Sivam, a former McKinsey consultant, said the goal is to let existing firms deliver value as good as, if not better than, the new entrants by adopting AI quickly: "With the right technology, they can lead this transformation rather than be disrupted by it."
Expansion plans
Sumary says it already works with most of the Nordics' 20 largest accounting firms and has won contracts with leading UK firms. Customers include Deloitte, Grant Thornton and Baker Tilly. The new capital will fund expansion across Europe, starting with the Benelux region. London will become the commercial hub, while Denmark remains the centre of technology development and AI research.
Apps worth a look
SUMO: the number puzzleTap the right tiles, add them up, hit the target. Easy to learn, hard to master. Free, for all ages.
Dialo: learn languages by speakingTalk to an AI conversation partner; every sentence comes back corrected and explained in your language. 9 languages, A1 to C2.
ediviewer: read EDI files like documentsOpen EDIFACT and X12 messages, see every segment explained, convert to JSON/XML, export PDF and Excel. Runs locally, no upload.
giftdetect: the right gift in minutesPick who it is for, the occasion and their personality. The search engine reads product descriptions from local shops and ranks what fits. Free, no sign-up.
