Copenhagen-based startup Sumary has secured $25 million in a seed funding round led by Singular. Existing investors byFounders, Partech, and Tenity also participated, alongside several angel investors from companies like Qonto, Linear, and Synthesia. This investment follows a $4.2 million pre-seed round raised less than a year ago.
Founded by former McKinsey consultants and a team of specialists, Sumary develops an AI-powered operating system for accounting automation. The platform handles tasks such as monthly financial closes, VAT returns, and year-end preparation. According to the company, users report a 50 per cent reduction in time spent on monthly closes and a 75 per cent decrease in time for VAT returns after three months of use.
The company currently works with the majority of the 20 largest accounting firms in the Nordics and has secured contracts with major international firms, including Deloitte, Grant Thornton, and Baker Tilly. Sumary utilizes a proprietary benchmark developed by its Copenhagen research team to evaluate AI model performance and verify outputs before integration.
With the new capital, Sumary plans to scale its operations across Europe. The company will begin its expansion in the Benelux region and establish London as its new commercial hub. Denmark will remain the primary center for the company's technology development and ongoing AI research.
