Lunar founders raise €8.2m to launch AI-native audit startup Repodo

Denmark's Lunar neobank has raised €8.2 million in pre-seed funding to launch their new venture, audit startup Repodo. This is the largest pre-seed round in Denmark's history, according to Sifted data. Hedosophia and Seed Capital led the investment round. AI is transforming various industries, including law, tax, and accounting.

However, in audit, innovation has mainly focused on making existing firms and workflows more efficient. Repodo has created an AI-native model for statutory audit, targeting small and medium-sized businesses. The platform automates data collection, reconciliations, documentation, and transaction analysis, allowing qualified auditors to focus on professional judgment, oversight, and final sign-off.

Repodo's founders, Ken Villum Klausen, Peter Andreasen, Joachim Strøjer Hansen, and Anders Houmann, left their operational roles at Lunar in recent months. The company now has a team of 20 and has become an authorized audit firm. The next step is to capture market share, initially in Denmark and then expand across Europe, considering country-specific subtleties in the audit process.