Rotterdam-based Engyon, an audit automation software company, has raised €1M in a seed round of funding led by the Graduate Entrepreneur Fund, a VC fund that supports tech startups in the Netherlands.
The Graduate Entrepreneur Fund was founded in 2021 by alumni of TU Delft, Erasmus MC, and Erasmus University Rotterdam. It has a combined pre-seed and seed fund of €58M and offers financing and access to a network of over 180 entrepreneurs and alumni.
Speaking about the investment in Engyon, Rui Li, an investor at the Graduate Entrepreneur Fund, says, “Over the coming years, auditors face an immense challenge as the demand for their services will be greater than ever. Engyon combines deep market knowledge with extensive technological expertise to address this challenge.”
“We strongly believe in Engyon’s vision to make CSRD audits more efficient and effective, and we are proud to support their growth.”
The automation platform for CSRD audits
Founded in 2024 by Berend Berendsen, Gerben Bas and Joachim Arts, Engyon aims to reduce audit and compliance risks while improving productivity for accounting firms.
The company offers a next-generation software platform designed to support auditors in conducting audits and assurance tasks for sustainability reports (CSRD).
The SaaS platform automates repetitive tasks, allowing auditors to focus on strategic client discussions. Over time, the software will assist with risk assessments, automated checks, data analysis, and fraud detection.
In 2024, Engyon developed its CSRD audit product from concept to beta, working with five accounting firms for market validation. By January 2025, the Early Access program began, with about 15 firms testing the tool.
The program will run until July 2025, after which the software will be expanded in the Netherlands and other EU countries to address the increasing demand for CSRD audit automation and case management solutions.
The company aims to provide an integrated solution that supports all auditing activities, including both financial and sustainability reporting.
Funds to accelerate growth
Engyon will allocate the funds to support international expansion and strengthen the R&D team.
Joachim Arts, CEO of Engyon, says, “There are fewer auditors available in the market, and the current tools don’t really help them do more with fewer resources.”
“With Engyon, we aim to provide our clients with the right tools to work more efficiently and cost-effectively. Perhaps the work will even become more enjoyable; with the help of AI and language models, much of the ‘boring’ work can simply be automated.”
With over 50,000 companies in the EU required to report under CSRD starting in 2026 and a shortage of auditors, the demand for audit software is increasing. Engyon aims to become the standard in the EU within three years for case management and AI-driven workflow automation in audits.
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