Dutch Startup Engyon Secures €1M to Drive Audit Software Innovation

Rotterdam-based Engyon, a developer of audit automation software, has successfully raised €1M in seed funding to support its international expansion efforts. The funding round was led by the Graduate Entrepreneur Fund, a prominent Dutch VC fund focusing on early-stage tech startups.

Dutch Startup Engyon Secures €1M to Drive Audit Software Innovation
Dutch Startup Engyon Secures €1M to Drive Audit Software Innovation

Rotterdam-based Engyon, a developer of audit automation software, has successfully raised €1M in seed funding to support its international expansion efforts. The funding round was led by the Graduate Entrepreneur Fund, a prominent Dutch VC fund focusing on early-stage tech startups.

Established in 2021 by alumni of TU Delft, Erasmus MC, and Erasmus University Rotterdam, the Graduate Entrepreneur Fund manages a combined pre-seed and seed investment pool of €58M. Alongside financial support, the fund provides startups with access to an extensive network of over 180 entrepreneurs and alumni.

Commenting on the investment, Rui Li, an investor with the fund, highlighted the increasing demand for auditing services in the coming years, noting that Engyon is well-positioned to address this challenge through its blend of market expertise and technological innovation. “We strongly believe in Engyon’s vision to make CSRD audits more efficient and effective, and we are proud to support their growth,” said Li.

Automating CSRD Audits with Next-Generation Tools

Founded in 2024 by Berend Berendsen, Gerben Bas, and Joachim Arts, Engyon focuses on reducing risks in audit and compliance while enhancing efficiency for accounting firms. Its software platform is designed to streamline the audit process, particularly for sustainability reports in line with CSRD requirements.

The platform automates repetitive tasks, enabling auditors to dedicate more time to high-level client interactions. Over time, Engyon aims to incorporate advanced features such as risk assessments, automated checks, data analysis, and fraud detection. By combining automation and AI, the platform aspires to alleviate the pressures faced by auditors, addressing both capacity and productivity challenges.

Throughout 2024, the company advanced its CSRD audit solution from concept to beta testing, collaborating with five accounting firms to refine the product. Early in 2025, Engyon launched its Early Access program, allowing approximately 15 firms to test the platform. This pilot phase will continue until mid-2025, with plans to scale the software across the Netherlands and other EU countries thereafter.

Funding to Support Growth and R&D

The newly raised funds will be directed toward international expansion and strengthening the company’s research and development capabilities. Joachim Arts, CEO of Engyon, emphasized the challenges facing the auditing profession due to limited resources. “There are fewer auditors available in the market, and the current tools don’t really help them do more with fewer resources,” Arts stated. He expressed optimism about Engyon’s potential to enable auditors to work more efficiently and even automate some of the more monotonous tasks through AI-driven solutions.

As the European Union prepares for the implementation of CSRD reporting requirements in 2026, demand for audit automation tools is growing rapidly. With over 50,000 companies expected to comply with the new standards, Engyon aims to position itself as the leading provider of AI-powered case management and workflow automation for audits within the next three years.