Lunar Founders Crack Audit Moat With €8.2M AI Firm

Three former Lunar executives and a licensed auditor closed a €8.2 million pre-seed for Repodo on 25 August 2026, launching what they call the first AI-native authorized audit firm and aiming it first at Danish small and medium-sized businesses.

Hedosophia and Nordic seed investor Seed Capital led the round, the largest pre-seed recorded in Denmark. The money funds platform work, a team already at 20, and a market-by-market push across Europe.

The €8.2 Million Round and the Team That Built It

Repodo Platform ApS sits in Copenhagen at Kongens Nytorv. Its four co-founders are Ken Villum Klausen (Lunar’s former CEO), Peter Andreasen (former CFO), Joachim Strøjer Hansen (former CPO) and Anders Houmann, a professional auditor whose licence lets the firm issue statutory opinions.

Klausen stood down from Lunar after 11 years once the neobank passed one million customers and more than €500 million in total funding. The others had already left their executive posts. Repodo secured authorization as an audit firm in the months before the raise.

Lunar’s Own Audit Friction Sparked the Idea

At Lunar the founders lived the client side of traditional audit. Klausen told Sifted they received emails from their firm, then spent hours gathering receipts and vouchers, logging into tax authorities and banks, and uploading everything.

“We were discussing if we could find an AI-native alternative that we could use ourselves. We couldn’t find any,” he said. That gap became the product brief: rebuild the operating model so the heavy lifting moves to software while the licence and judgement stay human.

Lunar itself had already shown technology can improve customer experience inside heavy regulation. The same investors who backed that journey are now repeating the wager on audit.

AI Agents Handle the Grind While Auditors Keep the Stamp

Repodo built its stack around AI from day one rather than bolting chatbots onto old workflows. The system automates the repetitive layers of statutory audit.

• Continuous data collection from banks, ERPs and tax systems
• Ledger reconciliations and matching
• Documentation assembly
• Full-population transaction analysis and sampling

Qualified auditors retain professional judgement, oversight and final sign-off. The firm markets real-time coverage so year-end surprises shrink and closes move faster.

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.

Ken Villum Klausen, co-founder, Repodo

Clients join an AI-native audit firm waitlist for 2026 onboarding. The pitch is lower friction and lower cost for the businesses that currently treat audit as an annual ordeal.

Europe’s Audit Market Still Runs on Four Firms

The global audit market sits near €80 billion. Europe alone is valued at the Europe auditing services market at USD 74.32 billion in 2026, headed for USD 99.73 billion by 2031 at a 6.05 percent CAGR.

External audits still deliver roughly 72 percent of revenue. Deloitte, EY, KPMG and PwC together hold about 97 percent of the European market according to industry tallies cited in coverage of the raise. Rotation rules and tendering create some churn, yet concentration has barely moved for years.

Digital-first SMBs keep crossing statutory thresholds. Continuous auditing and AI anomaly detection rank among the strongest growth drivers. Talent shortages and rising liability premiums act as brakes. Repodo’s opening move is to serve the mid-market and smaller end that the giants price and staff for larger clients.

Becoming the Firm Means Carrying the Liability

Most AI audit startups sell software to existing practices. Berlin’s Cortea raised €12 million for AI audit quality agents for firms that review reports before sign-off. Belgian Auditstage raised a smaller early round for similar tooling.

Repodo chose the harder path. It is the licensed firm, not a vendor. If an opinion is wrong, the liability sits with Repodo. That choice forces it to meet the same regulatory bar as any traditional practice while running continuous AI under the hood.

What We Know

• Authorized as an audit firm in Denmark within months of founding
• Team of roughly 20 and already raising Europe’s biggest Danish pre-seed
• AI handles volume tasks; humans own judgement and the stamp

What’s Unconfirmed

• Exact client pipeline or first revenue figures
• Precise fee schedule versus traditional mid-tier firms
• Timeline for first expansion markets beyond Denmark

Sarra Zayani, partner at Hedosophia, said the team is rebuilding the operating model around the technology while keeping the professional accountability audit requires. The founders’ prior success inside regulated finance, she added, supplies foundations for a significant European company.

SMB Targets and the European Expansion Map

Denmark is the beachhead because the founders know the rules and the banks. Expansion follows country by country. International Standards on Auditing provide a common base, yet local thresholds differ sharply: Sweden sits at the low end of Europe, the UK at the high end. Each market needs local adaptation of revenue cut-offs, tax interfaces and language.

Funds go first to platform depth and hiring, then to capturing share among SMBs that want faster closes and fewer manual requests. Continuous transaction testing replaces the classic once-a-year scramble. For the businesses, that can mean lower preparation cost and earlier visibility into issues. For auditors inside Repodo, the shift frees hours for risk and judgement rather than data hunting.

Klausen framed the longer goal simply: Denmark first, then a European audit firm built for the AI era.

Repodo is already authorized, staffed and funded at a scale unusual for pre-seed. The waitlist is open. The next test is whether SMBs and regulators trust a young AI-native practice with the same stamp the Big Four have held for decades.

Frequently Asked Questions

How much funding did Repodo raise and who led the round?

Repodo closed €8.2 million in pre-seed funding led by Hedosophia and Seed Capital, the same pair that earlier backed Lunar, plus other prominent investors; the sum is the largest Danish pre-seed on record according to Sifted data.

Who are the four co-founders of Repodo?

Ken Villum Klausen (ex-Lunar CEO), Peter Andreasen (ex-CFO), Joachim Strøjer Hansen (ex-CPO) and Anders Houmann, a licensed professional auditor whose credentials enable the firm to issue statutory audit opinions.

What is the size of the European audit market Repodo is entering?

Mordor Intelligence puts the Europe auditing services market at USD 74.32 billion in 2026, projected to reach USD 99.73 billion by 2031 at a 6.05 percent compound annual growth rate, with external audits still the dominant share.

How does Repodo split work between AI and human auditors?

AI agents continuously handle data collection, reconciliations, documentation and transaction analysis across the full population; licensed auditors keep professional judgement, oversight and the final legal sign-off required by regulation.

How is Repodo different from other AI audit startups such as Cortea?

Cortea and similar tools sell quality-review agents to existing audit firms; Repodo itself is the authorized audit firm that carries liability and issues the opinion, so software and the regulated practice sit inside one entity.