Former Lunar executives land €8.2 million pre-seed to build an AI-native audit firm from the ground up

Repodo has raised €8.2 million in pre-seed funding to build an AI-native audit firm from the ground up. The round was led by Hedosophia and Seed Capital, with participation from additional prominent investors, and brings together former Lunar co-founders Ken Villum Klausen, Peter Andreasen and Joachim Strøjer Hansen with auditor and co-founder Anders Houmann. Repodo is launching in Denmark with a focus on small and medium-sized businesses, using AI to automate repetitive audit work such as data collection, reconciliations, documentation and transaction analysis, while qualified auditors retain responsibility for risk assessment, professional judgement and final sign-off. The company plans to use the new capital to further develop its technology platform, grow its team and support its Danish launch, before expanding market by market across Europe. Repodo is an authorised audit firm developing an AI-native approach to statutory audit. Founded by former Lunar executives and an experienced auditor, the company uses AI to automate parts of the audit process, including data collection, reconciliations, documentation and transaction analysis, while qualified auditors remain responsible for oversight, professional judgement and final sign-off. The company is launching in Denmark with a focus on small and medium-sized businesses and plans to expand across Europe. AI is already changing the way work is carried out across areas including law, tax and accounting. In audit, much of the innovation to date has focused on applying new technology to make existing firms and workflows more efficient. Repodo is taking a different approach. Rather than adding AI tools to an existing audit model, the company has designed its technology, workflows and customer experience around AI from the outset, while keeping qualified auditors responsible for professional judgement, oversight and final sign-off. The opportunity is significant. Europe’s audit market is worth more than €80 billion annually, while statutory audit remains a costly, time-consuming and administratively demanding process for many small and medium-sized businesses. Repodo aims to reduce the manual work involved for both businesses and auditors, creating a faster, lower-friction and more affordable audit experience. “Audit is still built around an operating model that depends heavily on manual work. AI gives us the opportunity to redesign that model from the ground up – 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,” says Ken Villum Klausen, CEO and co-founder of Repodo “We have seen before how technology can fundamentally improve the customer experience in a heavily regulated industry. We believe the same opportunity now exists in audit. Denmark is our starting point, but our ambition is to build a European audit firm for the AI era.” Repodo’s platform automates parts of the audit process including data collection, reconciliations, documentation and transaction analysis. Qualified auditors retain responsibility for review, risk assessment, professional judgement and final sign-off. By reducing repetitive preparation and processing, Repodo aims to give auditors more time to focus on exceptions, complex issues and the conversations where professional experience matters most. The model is also intended to reduce the amount of time clients spend collecting information, responding to routine requests and supporting manual audit processes. Klausen, Andreasen and Hansen bring experience from building and scaling Lunar in one of the most highly regulated areas of financial services. They are joined by co-founder and auditor Anders Houmann, bringing specialist audit expertise to Repodo’s founding team. Together, the founders are applying their experience across technology, regulated financial services and audit to an industry they believe is ready for a fundamental change in its operating model.  “What stood out to us about Repodo is that the team is not simply applying AI to an existing audit workflow. They are rebuilding the operating model around the technology while preserving the professional accountability that audit requires,” says Sarra Zayani Partner at Hedosophia. “The founders combine first-hand experience of building and scaling a technology challenger in a highly regulated market with a clear view of how AI can change the economics and customer experience of a very large industry. We believe that creates the foundations for a significant European company.” The new capital will be used to further develop Repodo’s technology platform, build its team and support the company’s launch in Denmark. The company has been designed from the outset to expand market by market across Europe. Click to read more funding news.