Sumary secures $25M to expand its accounting software across Europe

Copenhagen-founded AI accounting software startup Sumary has raised $25 million in a seed round led by Singular. Existing investors byFounders, Partech and Tenity also took part, as did a group of angel investors: Steve Anavi (Qonto), Tuomas Artman (Linear), Stanislas Polu (Dust), Steffen Tjerrild (Synthesia), Jannick Malling (Public.com) and Ben Freeman (Omnea).

The company's technology is backed by a Copenhagen-based research team. That team has built a benchmark that tests AI models against real accounting tasks. Sumary uses it to measure model performance, verify outputs and evaluate new AI models before bringing them into client workflows.

Sumary's co-founder and CEO, Pascar Sivam, commented on the growing competition from AI-native accounting firms. The source does not include the full text of his remarks.

With the new money, Sumary plans to expand across Europe, beginning with the Benelux region. It will set up London as its commercial hub, while Denmark remains the centre of its technology development and AI research.

The round is notable as a sizeable seed investment in a Danish AI company, and it shows the company aiming to grow beyond its home market while keeping its research base in Copenhagen.