Copenhagen-founded Sumary announced its funding round on 10 November 2026. The investment firm Singular led the round, and the company’s existing investors byFounders, Partech and Tenity also took part.

The amount was announced in dollars. Sesamers converted it to about €22.3 million, and the British publication Soapbox puts it at £19 million. The company says it is the largest seed round for an accounting software company in Europe. Sesamers repeats this claim, citing Oresund Startup News.

The round comes less than a year after Sumary’s previous funding: in November 2025 it raised a $4.2 million pre-seed round, which byFounders led, The Next Web reported.

Sumary’s round was the third European accounting funding round within 12 days, Sesamers reported. Before that, Belgium’s Ravical raised $17 million and Barcelona-based Kabilio raised €10 million.

An accountant approves every step

Sumary calls its product an operating system for accounting firms. The platform automates routine work: the monthly close, in which the month’s entries are reconciled and closed; VAT returns; and preparation of annual accounts. It works with clients’ existing accounting software and prepares tasks for an accountant to review and approve.

The company’s research team in Copenhagen has built a benchmark from real accounting tasks. Sumary uses it to measure leading AI models and tests every new model before it can handle a client’s books. According to company information published by Soapbox and FinTech Global, the benchmark also assesses the financial data given to the model, the controls applied to its work and the checks on its output.

Time savings are the company’s own figures

Sumary says that after three months of use, accounting firms spend 50 per cent less time on the monthly close and 75 per cent less on VAT returns. Sesamers notes that the figures have not been independently verified. The published information does not say what baseline the savings are measured against or how many firms’ experience they are based on.

The company says its clients include most of the 20 largest accounting firms in the Nordic countries, as well as Deloitte, Grant Thornton and Baker Tilly, among others.

AI-based accounting firms challenge established ones

Chief executive Pascar Sivam points to labour shortages as the reason for the product: ‘Accounting firms are being asked to do more with fewer people.’ Software must handle the preparatory work properly so that accountants have time for their clients and their own teams, Sivam says.

‘Dozens, and probably soon hundreds, of AI accounting firms are being built as we speak,’ Sivam says. Sumary wants to help established firms adopt AI quickly across their whole operations and so hold their own against these newcomers.

Sumary will use the funding to expand in Europe, starting with the Benelux countries, and to grow sales in the UK. London will become its commercial hub, and Sivam and chief operating officer Frederik Skov Wacher are moving there. Technology development and AI research will stay in Copenhagen.