Sumary raises $25m seed to automate the accountant's month-end close

Sumary raises $25m seed to automate the accountant's month-end close

9 November 2026: Sumary says it has raised $25 million in a seed round led by Singular, and it will spend the money selling its AI accounting system to large firms across the Nordics, the UK and, next, the Benelux. Existing backers byFounders, Partech and Tenity invested again.

Not yet independently verified. The time saving of more than 50% and the description of this as Europe's largest seed round for accounting software are Sumary's own statements. We found no independent measure of either. We will update this when it can be confirmed, and remove this note.

Firms keep their ledgers, and the work arrives ready for sign-off

Sumary calls its product an AI operating system for accounting work. It runs the month-end close, VAT returns and year-end preparation across a firm's whole client list, on whichever ledger each client already uses, and hands each piece of work to an accountant to review and sign. The company says firms cut the time these jobs take by more than half.

The second half of the pitch is advice. An accountant can ask the system about a client's profit and loss, balance sheet or cash flow and get an answer traced back to the transactions behind it. Sumary's argument is that hours saved on preparation can be sold again as advice to smaller clients who never got much of it.

Named users include Deloitte, Grant Thornton and Baker Tilly. "Sumary's AI and accounting workflows are a superpower every accountant deserves," said Mads Faurschou, a partner at Deloitte, in the company's post.

Accountants on the payroll as well as salespeople

The round pays for three things. The commercial team grows so that more firms can start sooner. A group the company calls forward deployed accountants grows too, so that each new firm has accountants working alongside it from the first day. The rest goes on research, where machine learning staff test each leading model against Sumary's own benchmark of accounting tasks and build the checks placed around every output.

Pascar Sivam, the chief executive and a co-founder, puts the shortage at the centre of the case: "For years the answer was to hire, and there are no longer enough accountants to hire."

Copenhagen stays home to product, engineering and AI research, while London becomes the base for customer work. Sumary has promised to show what it has been building next on Thursday 12 November.

A $4.2m pre-seed a year earlier, and a long list of founder angels

Sumary closed a $4.2 million pre-seed about a year before this round. Tech.eu names its founders as former McKinsey consultants Pascar Sivam and Bastian Schneider, with Lucas Rantzau, Frederik Hvilshøj and Frederik Skov Wacher completing the leadership team.

The angels joining now are Tuomas Artman of Linear, Steve Anavi of Qonto, Stanislas Polu of Dust, Steffen Tjerrild of Synthesia, Jannick Malling of Public.com and Ben Freeman of Omnea.

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Company profile on TrustList: Sumary

Sources

• Sumary, "Our $25m seed round, led by Singular", 9 November 2026
• Tech.eu, Sumary secures $25M, 10 November 2026