Lucrotec
- Company typePrivate
- Founded2017
- HeadquartersRockaway, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
Lucrotec firmographics
Firmographics- Name
- Lucrotec
- Legal name
- Lucrotec, LLC
- Website
- https://lucrotec.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Lucrotec industry classification
Industry- Product category
- Accounts Payable Automation Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Other Activities Related to Credit Intermediation (52239)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Accounts Payable Automation & Supplier Payments (FSAGAJAD)
Keywords
Where Lucrotec is headquartered
LocationHeadquarters
- HQ city
- Rockaway
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Lucrotec business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Managed Payment Services: Lucrotec acts as a managed payment service provider, orchestrating the entire payment supply chain. The company processes payments via ACH, check, wire, card, and international methods, taking responsibility for payment completion. Revenue is generated through transaction processing fees and rebate opportunities from the payment supply chain.
- Payment Rebate Optimization: Lucrotec helps businesses tap into the payment supply chain to uncover opportunities for rebates and discounts, maximizing the value of every payment through intelligent routing to optimal payment methods.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Lucrotec product offering
Product offeringCore offering
Lucrotec is a managed B2B payment service provider that operates the proprietary Lucrotec APeX SaaS platform to orchestrate enterprise accounts payable end-to-end, including supplier onboarding and KYS verification, AI-driven invoice digitization and processing, payment execution across ACH, check, wire, card, and international rails, automated reconciliation, and IRS 1099 tax reporting. The company is not a bank but leverages banking partnerships (Wells Fargo, US Bank) and integrates with major ERPs (SAP, Oracle, Workday, NetSuite, Microsoft Dynamics, Infor) to deliver payment-method-agnostic automation for Fortune 500 and large enterprise CFOs.
Product overview
Lucrotec is a FinTech company providing a managed B2B payment service platform centered on its proprietary Lucrotec APeX platform. The platform offers a modular architecture comprising four core solution areas: Payment Automation, Supplier Onboarding, Invoice Automation, and IRS 1099 Reporting. These modules operate as integrated components within the APeX platform rather than standalone products. Lucrotec is not a bank but orchestrates the entire payment supply chain by leveraging banking relationships (Wells Fargo and US Bank), technology, and automation to maximize efficiency, security, and financial impact. The platform supports all payment types (ACH, wire, check, card) and processes payments in over 30 currencies across 100+ countries.
Differentiator
Problem solved
Functional benefit
Products and services
- Lucrotec APeX Platform Proprietary B2B payment operations platform that integrates robotic process automation (RPA), AI, machine learning, and direct connections to payment supply chain partners to orchestrate all payment types (ACH, check, wire, card, and international) in a single SaaS-based platform with real-time visibility and automated reconciliation. Built for enterprise CFOs and large organizations managing high-volume B2B supplier payments.
- Payment Automation Automates B2B supplier payments across ACH, wire transfers, check, virtual card, and international FX payments, with automated reconciliation, real-time reporting, and rebate monetization opportunities through the payment supply chain. Designed for enterprise AP teams managing high-volume supplier disbursements.
- Supplier Onboarding Comprehensive supplier authentication and verification solution ensuring business legitimacy, KYS compliance, ongoing monitoring, fraud detection, risk assessment, and a self-service portal for managing banking, tax, and remittance details. Built for enterprise procurement and AP teams onboarding large supplier populations.
- Invoice Automation Digitizes paper invoices into digital records using AI-powered OCR and data parsing, then enables seamless allocation, approval, and payment of invoices through automated workflow and approval processes with ERP connectivity. Targets enterprise AP teams seeking to eliminate manual invoice handling.
- IRS 1099 Reporting Automated tax compliance solution that generates 1099-MISC, 1099-INT, and 1099-NEC forms for all eligible transactions, with supplier payment categorization, automated generation, client review and approval, printing, mailing, and USPS tracking. Serves enterprise AP and finance teams responsible for year-end tax compliance.
- Client Portal Secure web portal providing 24/7/365 real-time transaction visibility, payment tracking, funding details, and reconciliation dashboards for enterprise accounts payable teams managing payments through Lucrotec APeX.
- Supplier Portal Self-registration portal for suppliers to manage their banking, tax, and remittance details with real-time visibility into payment status, enabling low-friction supplier onboarding for enterprise clients.
Quantifiable outcome
- 453% revenue growth over three years (2021-2024)
- +7 more outcomes
Companies that use Lucrotec
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles2 records
Lucrotec technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration17 records
AI capability8 records
Feature5 records
Lucrotec partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered core.
- Wells FargocorePrimary banking partner through which Lucrotec supports transactions in over 30 countries. Wells Fargo provides custodial clearing account services and banking infrastructure for payment processing.
- US BankcorePrimary banking partner alongside Wells Fargo, supporting international transactions across 30+ countries through their affiliate network.
- SAPcoreERP integration partner. Lucrotec APeX is designed to work seamlessly with SAP ERP systems with flexible architecture supporting flat file uploads, API connectivity, and batch automation.
- OraclecoreERP integration partner. Lucrotec APeX is designed to work seamlessly with Oracle ERP systems with flexible architecture supporting flat file uploads, API connectivity, and batch automation.
- WorkdaycoreERP integration partner. Lucrotec APeX is designed to work seamlessly with Workday ERP systems with flexible architecture supporting flat file uploads, API connectivity, and batch automation.
- Microsoft DynamicscoreERP integration partner. Lucrotec APeX integrates with Microsoft Dynamics ERP systems with flexible architecture supporting flat file uploads, API connectivity, and batch automation.
- NetSuitecoreERP integration partner. Lucrotec APeX is designed to work seamlessly with NetSuite ERP systems with flexible architecture supporting flat file uploads, API connectivity, and batch automation.
- InforcoreERP integration partner. Lucrotec APeX integrates with Infor ERP systems with flexible architecture supporting flat file uploads, API connectivity, and batch automation.
- VisacorePayment network partner enabling virtual card and single-use card payments. Access to major payment networks maximizes digital payment adoption and enables cost-effective payment channels.
- MastercardcorePayment network partner enabling virtual card and single-use card payments. Part of the payment network ecosystem that ensures enterprises can meet suppliers where they are.
- DiscovercorePayment network partner enabling card payments. Part of the payment network ecosystem providing flexibility across card, bank, and real-time payment rails.
- ACH/SEPA/BACScoreBank payment rails enabling ACH (domestic), SEPA (Europe), and BACS (UK) electronic fund transfers. Essential infrastructure for electronic payment processing globally.
- ERP & Software ProviderscoreChannel partners who can integrate Lucrotec's intelligent AP automation into their platforms to enhance their platform's value and offer complete solutions to clients.
- Financial Institutions & FintechscoreChannel partners who can provide seamless, end-to-end payment processing to their business clients by leveraging Lucrotec's platform and expertise.
- AP & Expense Management FirmscoreChannel partners who can streamline supplier payments and enhance financial efficiency for their clients by offering Lucrotec's automated AP solutions.
- BPOs & ConsultantscoreChannel partners who can help clients digitize, secure, and optimize their AP workflows with minimal disruption by incorporating Lucrotec's solutions.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Lucrotec competitors and assessment
Company assessmentDirect peers
- Bill.com: Public B2B fintech providing AP automation, bill pay, spend management, and corporate cards. Directly competes with Lucrotec for enterprise AP-orchestration deals, but bundles AP with a broader financial-operations platform and corporate-card program.
- Tipalti: Enterprise AP automation platform covering supplier onboarding, invoice processing, global payments, tax compliance, and reconciliation. Closely comparable to Lucrotec APeX in functional scope and enterprise target market.
- AvidXchange: Mid-market and enterprise AP automation provider specializing in invoice-to-pay workflows across multiple payment methods. Direct competitor to Lucrotec's end-to-end AP orchestration value proposition, especially for mid-to-large enterprises.
- Stampli: AI-powered AP automation platform with collaborative invoice management and payments. Competes with Lucrotec in the mid-market and enterprise AP space, with similar emphasis on invoice digitization and supplier payments.
- MineralTree: AP automation solution acquired by Global Payments, focused on invoice capture, approval workflows, and electronic B2B payments. Direct competitor offering bank-rail-orchestrated payment execution similar to Lucrotec's model.
Broad incumbents
- Ramp: Fast-growing corporate card and spend-management platform that has expanded into AP automation, bill pay, and vendor management. Competes with Lucrotec on the bill-pay and supplier-payment side, but bundles with cards and expense management.
- Coupa: Large business spend management platform (now part of Thoma Bravo) with AP automation and B2B payment capabilities. Competes with Lucrotec at the enterprise end for full-suite procurement-to-pay buyers.
Emerging players
- HighRadius: AI-driven order-to-cash and treasury platform that has expanded into autonomous AP and B2B payments. Comparable enterprise target customer and AI-led automation thesis, though historically AR-strong rather than payables-led.
- Versapay: Collaborative AR and AP automation network connecting buyers and suppliers. Overlaps with Lucrotec on supplier onboarding and electronic B2B payments, with a strong network-effect positioning similar to APeX's data aggregation.
Others
- Plaid: Financial data network enabling bank-account connectivity and payment initiation. Not a direct AP competitor, but relevant infrastructure adjacent to Lucrotec's bank-rail orchestration and supplier-account-verification workflows.
Market position
Strengths5 records
Weaknesses5 records
Key risks7 records
Key highlights7 records
Customer concentration
Lucrotec social profiles
Digital presenceLucrotec compliance and trust
Trust signalCompliance2 records
Lucrotec financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lucrotec leadership team
Management profileNumber of profiles
Profiles3 records
Lucrotec funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lucrotec M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lucrotec
What does Lucrotec do?
Lucrotec is a managed B2B payment service provider that operates the proprietary Lucrotec APeX SaaS platform to orchestrate enterprise accounts payable end-to-end, including supplier onboarding and KYS verification, AI-driven invoice digitization and processing, payment execution across ACH, check, wire, card, and international rails, automated reconciliation, and IRS 1099 tax reporting. The company is not a bank but leverages banking partnerships (Wells Fargo, US Bank) and integrates with major ERPs (SAP, Oracle, Workday, NetSuite, Microsoft Dynamics, Infor) to deliver payment-method-agnostic automation for Fortune 500 and large enterprise CFOs.
Is Lucrotec a public or private company?
Lucrotec is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Lucrotec founded?
Lucrotec was founded in 2017. It employs 51 to 100 people.
Where is Lucrotec based?
Lucrotec is headquartered in Rockaway, United States, in the North America region.
How does Lucrotec make money?
Two revenue lines are on record. Managed Payment Services are the primary driver. The others are payment Rebate Optimization.
Who are Lucrotec's main competitors?
Direct peers on record are Bill.com, Tipalti, AvidXchange, Stampli and MineralTree. Broad incumbents are Ramp and Coupa. Emerging players are HighRadius and Versapay. Plaid is listed as an others.
Does Lucrotec have an API?
No public API is recorded for Lucrotec.
What industry is Lucrotec in?
Lucrotec's product category is Accounts Payable Automation Software. Its primary akta.pro industry code is FSAGAJAD, Accounts Payable Automation & Supplier Payments. Its NAICS code is 522320 and its SIC code is 6159.