The Repodo AI audit startup, built by the founders of Danish neobank Lunar, has raised €8.2m in pre-seed funding, a round that closed on 25 August 2026 and that Sifted data puts as the largest pre-seed in Denmark to date. The backers leading it are Hedosophia and Seed Capital. Which leaves an obvious question: is there really a gap in the audit market big enough to justify building an entirely new kind of firm from scratch?
Why the Repodo AI audit startup was born
The founding idea, by CEO Ken Villum Klausen’s own account, came directly from frustration as a client. ‘At Lunar, we were being served with an email from our audit firm, and then we needed to do a bunch of heavy lifting,’ he told Sifted. ‘We need to prepare our receipts and vouchers, we need to log in to the tax authorities and into our banks and upload everything.’ The team looked for an AI-native alternative they could use themselves. They found nothing.
So they built it. Repodo’s platform automates parts of the audit process, including data collection, reconciliations, documentation and transaction analysis. Qualified auditors remain responsible for professional judgement, oversight and final sign-off; the technology handles the repetitive processing. ‘AI gives us the opportunity to redesign the model from the ground up,’ Villum Klausen says, ‘not by removing auditors, but by allowing technology to handle more of the repetitive processing and giving auditors more time to focus on judgement, risk and the issues where their expertise really matters.’
The initial focus is on small and medium-sized businesses, a segment where the administrative burden of statutory audit has historically fallen hardest on the client.
The team and the market opportunity
Villum Klausen left the CEO role at Lunar in May. His cofounders are Peter Andreasen and Joachim Strøjer Hansen, who held the CFO and CPO roles at Lunar and left their operational positions at the bank in 2025 and 2020, respectively. The fourth cofounder is auditor Anders Houmann. Between them, the founding team combines banking, product and audit expertise, a combination Repodo argues is essential for rebuilding the workflow rather than simply bolting AI onto an existing one.
The Copenhagen-based firm has grown to a team of 20 and, crucially, has become an authorised audit firm, according to Dealroom News. That authorisation matters: statutory audit is a regulated activity, and any platform that wants to displace incumbents rather than simply support them needs to operate inside that regulatory perimeter, not around it.
The prize, if the model works, is substantial. Dealroom News reports that the European audit market is worth more than €80 billion annually. Much of that value sits with large incumbents serving large corporates, but the SME end of the market (Repodo’s initial target) is fragmented and, by most accounts, underserved by technology.
The European expansion question
Repodo’s stated plan is to capture market share in Denmark first, then expand market by market across Europe. The strategy reflects a genuine structural complexity. ‘There’s a European standard for audit, ISA standard, but there are also country subtleties,’ Villum Klausen says. He points to revenue thresholds as one example: the threshold triggering a statutory audit obligation is the lowest in Europe in Sweden and the largest in the UK. Each market requires adaptation, which means the rollout cannot simply be copy-and-paste.
That country-by-country granularity also shapes the competitive picture. Incumbents have decades of local knowledge baked into their processes. An AI-native firm starting from scratch can, in theory, encode those country rules into its platform more cleanly, but only if it gets the local detail right. Whether Repodo’s model translates as cleanly to a second or third market as it does to Denmark is the question the €8.2m will go some way toward answering, with Hedosophia and Seed Capital clearly betting it will.
