Lunar founders raise €8.2m for AI-native

The founders of Danish neobank Lunar have raised €8.2 million in pre-seed funding to launch their next venture, an audit startup called Repodo. According to Sifted data, this round is the largest pre-seed investment in Denmark to date, with Hedosophia and Seed Capital leading the funding.

Repodo has developed a new AI-native model for statutory audit, initially targeting small and medium-sized businesses. CEO Ken Villum Klausen told Sifted that much existing innovation in audit has focused on applying new technology to make current firms and workflows more efficient. Repodo aims to redesign the model from the ground up.

The AI-native audit model

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.

“AI gives us the opportunity to redesign the 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,” Villum Klausen said.

The idea for Repodo reportedly came from the founders' own frustrations. Villum Klausen described receiving an email from their audit firm at Lunar, which then required significant manual work preparing receipts, logging into tax authorities and banks, and uploading documents. They discussed finding an AI-native alternative but could not locate one.

Founding team and growth

Ken Villum Klausen left his role as CEO at Lunar in May. His cofounders are former Lunar CFO Peter Andreasen and former Lunar CPO Joachim Strøjer Hansen, who left their operational roles at the bank in 2025 and 2020, respectively. The fourth cofounder is auditor Anders Houmann.

In recent months, Repodo has grown to a team of 20 and has managed to become an authorised audit firm. The company's current focus is on capturing market share, starting in Denmark and then expanding market by market across Europe.

European expansion challenges

Villum Klausen noted the challenges of European expansion, citing a European audit standard (ISA standard) but also significant country-specific subtleties. “The revenue threshold in Sweden is the lowest in Europe, and the revenue threshold in the UK is the largest,” he said, highlighting differences that require adaptation from country to country.

AI is already changing work across law, tax, and accounting, according to the CEO. Repodo's launch represents a new approach in the audit space, aiming to build a system around artificial intelligence rather than simply applying it to existing processes.