What Nook does

Nook was a London-based B2B payments and accounts payable (AP) automation startup founded in 2020, with a secondary office in Lisbon, Portugal. The company built software to digitize invoice payments and data exchange, targeting the replacement of PDF-based invoice transactions for small and medium-sized enterprises (SMEs) and accountants. Its core technology focused on invoice payment digitization and security, automating accounts payable workflows to reduce manual processing and improve transaction security. Nook pursued a sales-led go-to-market strategy aimed at SMEs and accounting professionals, with no publicly disclosed pricing model or named customers at the time of acquisition.

In October 2021, Nook raised $1.1 million in a pre-seed round led by Speedinvest and Triple Point Ventures, with participation from Ascension, Bynd Venture Capital, Notion Capital, and Shilling VC. The capital was deployed toward product expansion and marketing to drive adoption among SME and accountant segments. The company was co-founded by Henry Arnold and Joseph Lines. In 2024, Nook was acquired by Modulr, a payment infrastructure provider, and its technology was rebranded as 'Modulr AP, powered by Nook,' with an end-to-end invoice management and AP automation offering planned for launch in early 2025. As a standalone product, Nook no longer operates independently; its capabilities are now positioned as part of Modulr's broader payments platform.

Name

Nook

Legal name

Nook

Website

https://nook.io

Company type

Private

Founded year

2020

Operating status

Acquired

Headcount range

1–10 employees

Short description

Nook was a London-based B2B payments and accounts payable automation startup that digitized invoice payments and data exchange for SMEs and accountants. Acquired by Modulr in 2024, it now operates as 'Modulr AP, powered by Nook.'

Ownership category

akta.pro rank

Product category

Accounts Payable Automation

NAICS

Software Publishers (513210)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Accounts Payable Automation & Supplier Payments (FSAGAJAD)

akta.pro secondary industries

E-Invoicing & Invoice Presentment (B2B/B2G) (FSAMAJAF), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

Keywords

• Accounts payable automation
• B2B invoice payments
• Invoice digitization platform
• AP automation software
• Invoice management

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations

Go-to-market motion1 record

Core offering

Nook built a B2B accounts payable automation platform that digitized invoice payments and data exchange, primarily targeting SMEs and accountants to replace PDF-based invoice transactions. Following its 2024 acquisition by Modulr, the offering was rebranded as 'Modulr AP, powered by Nook,' launching in early 2025 as an end-to-end solution for invoice management and AP automation.

Product overview

Nook was originally a B2B payments and Accounts Payable automation platform that offered invoice management and AP automation. The company was acquired by Modulr, and the combined offering is now branded as 'Modulr AP, powered by Nook,' launching as an end-to-end solution for invoice management and AP automation enhanced by Modulr's payment infrastructure. Nook itself no longer operates as a standalone product and has been rebranded into Modulr AP.

Differentiator

Problem solved

Functional benefit

Products and services

• Nook (now Modulr AP) A B2B accounts payable automation platform that digitized invoice payments and data exchange for SMEs and accountants, replacing PDF-based invoice transactions. Post-acquisition, it operates as Modulr AP, combining Nook's AP automation with Modulr's payment infrastructure to deliver end-to-end invoice management and faster, automated payment workflows with reduced errors and improved visibility.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• ModulrcoreStrategic or Co-development PartnerModulr acquired Nook, combining Modulr's powerful payment infrastructure with Nook's advanced accounts payable automation. The acquisition created Modulr AP, launching early 2025 as an end-to-end solution for invoice management and AP automation, enhanced by Modulr's trusted payments platform.

Scale indicators1 record

Recent moves4 records

Expansion highlights3 records

Direct peers

• Yooz: Yooz delivers cloud-based AP automation and invoice processing focused on SMEs and mid-market. It directly competes with Nook on digitizing invoice workflows and replacing paper/PDF-based AP processes.
• Stampli: Stampli is an AP automation platform that digitizes invoice processing, approvals, and payments for mid-market and SMEs. It is a direct competitor to Nook on invoice digitization and AP workflow automation with a similar mid-market/SME focus.
• Spendesk: Spendesk offers spend management, bill payment, and AP automation for European SMEs. It is highly comparable to Nook in targeting European SMEs and accountants with digitized invoice and payment workflows.
• Pleo: Pleo provides company cards and expense/invoice management for European SMEs. It targets the same SME finance buyer as Nook with overlapping invoice payment digitization and AP automation capabilities.
• Melio: Melio provides bill pay and AP automation for US SMEs with a focus on replacing manual check-based workflows. It is directly comparable to Nook in digitizing bill payments and AP for small businesses.

Broad incumbents

• Bill.com: Bill.com is a leading US-listed AP/AR automation platform serving SMEs and mid-market with end-to-end bill payment, invoicing, and approval workflows. It is directly comparable to Nook's AP automation and invoice digitization focus but operates at much larger scale with broader functionality.
• Tipalti: Tipalti provides AP automation, supplier payments, and global payouts primarily for mid-market and enterprise. It overlaps with Nook on invoice processing and supplier payments and represents a more comprehensive, higher-end comparable in the same category.
• Sage: Sage is a broad incumbent in accounting and SMB finance software with AP and invoice management capabilities embedded in its suite. It competes with Nook for the same SME/accountant buyer via an established, multi-product finance platform.
• Xero: Xero is a global cloud accounting platform serving SMEs with bill management, invoicing, and payment integrations. It is comparable to Nook via the SME and accountant segments it serves and the invoice/payment workflows it covers.

Emerging players

• Crezco: Crezco is an open banking-based B2B payments platform offering invoice payments and pay-by-bank for SMEs. It is comparable to Nook on invoice payment digitization for SMEs and shares the European focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nook