Investment: “Repodo raises €8.2M”
Repodo is an AI audit startup that aims to reduce the manual work involved in the audit process for businesses and auditors. The company has secured a €8.2m pre-seed funding round led by Hedosophia and Seed Capital.
The €8.2m pre-seed round is led by Hedosophia and Seed Capital, which backed Lunar, and also includes what the company described as “prominent investors”.
Repodo was founded by four co‑founders: Ken Villum Klausen (Lunar’s former CEO), Peter Andreasen (Lunar’s former chief finance officer), Joachim Strøjer Hansen (Lunar’s former chief product officer) and Anders Houmann, a professional auditor. The three former Lunar executives have left their executive roles at the challenger bank, which has raised over €500m in funding and has over one million customers.
The startup has built AI into its technology from the outset to automate repetitive parts of the audit process, including data collection, reconciliations, documentation and transaction analysis, while qualified auditors retain responsibility for professional judgement, oversight and final sign‑off. Repodo says it aims to create a faster, lower‑friction and more affordable audit experience and will focus on small and medium‑sized businesses; it plans to launch in Denmark and expand across European markets beyond Denmark. The company notes the audit market is worth €80bn globally.
Repodo plans to focus on serving small and medium‑sized businesses and expand into European markets beyond its launch in Denmark.
“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
