Modulr, a fintech company that provides businesses with embedded payments solutions, has acquired accounts payable automation platform Nook.
Modulr and Nook are both headquartered in London and operate under a shared mission to ensure business payment processes are efficient and secure. The acquisition aims to connect their customer bases with a more comprehensive portfolio of software tools, with Modulr AP, powered by Nook, set to launch in early 2025, according to a news release.
“Looking ahead, we see tremendous opportunity to further expand our capabilities and deliver even greater value to U.K. and European businesses,” Modulr Founder and CEO Myles Stephenson said in a statement. “This strategic move strengthens our offerings in invoice management and accounts payable automation, while giving Nook’s customers full access to Modulr’s extensive payments capability.”
