Ex-Lunar founders raise €8.2M to crack the €80B AI audit market
A trio of former executives from Danish digital bank Lunar has decided that spreadsheets and human-only bookkeeping have run their course. Together with a professional auditor, they’ve raised €8.2 million to build Repodo, a startup betting that artificial intelligence can finally break into the notoriously conservative audit market, starting with small businesses in Denmark rather than the multinational giants that dominate the industry today.
Key takeaways
- Repodo raised €8.2 million to launch an AI-powered audit firm, with the round led by Hedosophia and Seed Capital.
- The company was founded by three former Lunar executives alongside professional auditor Anders Houmann.
- The global audit market is worth roughly €80 billion, with Europe accounting for about €74 billion of that total.
- Repodo is targeting small and medium-sized enterprises in Denmark first, with plans to expand across Europe.
- The Big Four firms have poured billions into AI tools but remain focused on large corporate clients, leaving SMEs largely underserved.
Launch of Repodo and Its Founders
Repodo’s arrival answers a simple question: what happens when people who scaled a challenger bank turn their attention to auditing? The company launches with fresh capital and a founding team that blends fintech experience with formal audit credentials, an unusual pairing in a profession built on regulatory caution.
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