Sumary raises $25m seed round led by Singular
Copenhagen-founded Sumary will expand from the Nordics into Benelux and make London its commercial hub after the AI accounting funding round.
By Ingrid Halvorsen · Venture Capital Reporter
· 3 min read
Sumary’s $25m seed round gives the Copenhagen-founded accounting software startup fresh capital for a European push, beginning in Benelux. Singular led the financing, announced November 10, with existing backers byFounders, Partech and Tenity also participating, according to The Next Web and Vestbee.
The company did not disclose a valuation, ownership stakes, revenue, customer count or a detailed allocation of the proceeds. Sumary said London will become its commercial hub, while Denmark will remain home to its technology and AI research work. Chief executive Pascar Sivam and chief operating officer Frederik Skov Wacher are relocating to London, The Next Web reported.
The seed follows a $4.2 million pre-seed in November 2025 that was led by byFounders. On the reported figures, the new financing is roughly six times the earlier round and brings Sumary’s disclosed fundraising to $29.2 million. That calculation does not establish the company’s valuation or commercial performance.
What does Sumary’s AI accounting software do?
Sumary sells software to accounting firms rather than directly to their business clients. Its product prepares work including monthly financial closes, VAT returns and year-end accounts across customers’ existing bookkeeping systems. An accountant is meant to review and approve the work before it is signed off, according to The Next Web.
That distinction is central to the company’s pitch: the software is intended to handle preparation work, while professional judgment and approval remain with the firm. In an interview, Sivam said the platform covers bookkeeping, controlling, reporting and advisory work, but excludes audit.
Sumary says its customers include Deloitte, Grant Thornton and Baker Tilly, and that it works with most of the 20 largest accounting firms in the Nordics. It also says customers that have used the platform for three months spend 50% less time on monthly closes and 75% less on VAT returns. Those customer, adoption and efficiency figures are company claims, not independently verified results in the available reporting.
Who invested in Sumary’s $25m seed round?
Alongside Singular and the returning institutional investors, reported angel participants include 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.
Founded in 2025, Sumary was started by Sivam, Bastian Schneider, Lucas Rantzau, Frederik Hvilshøj and Wacher, Vestbee reported. The company says the new money will fund product development, AI research and a larger team of accountants who support customer implementations, as well as its expansion beyond the Nordic region.
Sumary has described the financing as Europe’s largest seed round for an accounting-software company. No independent ranking or supporting comparison is included in the available reports, so that remains the company’s characterization. The disclosed deal terms show a large early-stage round for an accounting workflow vendor, but leave the metrics needed to assess its underlying business undisclosed.
This story draws on original reporting from Sifted.
