Get the app

Sumary raises $25M in what it calls Europe’s largest accounting seed round

The Next Web
Read full story· 3 min
Sumary, a Copenhagen-based startup providing AI software for accounting firms, raised $25M in a seed round led by Singular, marking Europe's largest seed round for accounting software. The company aims to accelerate expansion across the UK and Europe, offering AI-driven automation to reduce accounting workload and improve efficiency.

What happened

Sumary, a startup based in Copenhagen that develops AI tools for accounting firms, secured $25 million in seed funding. The investment round was led by Singular, with participation from several existing investors and notable angel investors. The company plans to use the funds to expand its presence in the UK and across Europe. Sumary's software is designed to automate core accounting tasks and is already used by major firms in the Nordics.

Key details

  • Sumary raised $25 million in its seed round.
  • Singular led the funding, joined by byFounders, Partech, Tenity, and several angel investors.
  • The company previously raised $4.2 million in a pre-seed round in November 2025.
  • Sumary's software is used by firms including Deloitte, Grant Thornton, and Baker Tilly.
  • The company claims its software can cut the time spent on monthly closes by 50% and on VAT returns by 75%.

Why it matters

Accounting firms in Europe, especially those facing staff shortages, can now access tools that significantly reduce manual work and improve efficiency. This funding allows Sumary to bring its automation technology to more firms, potentially changing how accounting services are delivered. Firms adopting this software may be able to serve more clients without needing to hire additional staff, impacting costs and competitiveness in the accounting sector.

#accounting-software#byfounders#financial-technology#partech#singular#sumary#tenity

More in Business & Enterprise