Lucanet is building trustworthy AI into the office of the CFO
"90% accuracy is 0% accuracy"
Lucanet runs the numbers for finance and tax teams worldwide: more than 6,500 companies in 50+ countries, across consolidation, financial planning, ESG reporting, disclosure management, tax compliance, banking and cash management, lease accounting, XBRL... One platform, one source of truth. It's the system finance and tax teams already trust to close the books. Now it's teaching itself to reason, too.
In finance and tax, there's no such thing as roughly right: one wrong figure and the whole result is questionable. So that's the bar Lucanet set itself: trustworthy on day one, traceable on day two, defensible in front of an auditor on day three. You don't get that by bolting AI onto the side of a platform.
That's why every agent Lucanet ships, from tagging an XBRL filing to closing a set of books, sits behind a single conversational front door: Lucanet Lume.
Intelligence isn't the new part.
Lucanet was named after Luca Pacioli, the Renaissance friar who wrote the first published account of double-entry bookkeeping in 1494, the system every ledger since has run on. Since 1999, the company has spent 25 years doing the same job Pacioli did: turning financial chaos into something trustworthy. AI is simply the next chapter of a story Lucanet has been writing all along.
Three things built before the agents
1. 25+ years of domain logic
Local GAAPs, IFRS, ESEF, CSRD, Pillar 2, encoded deterministically, long before an agent ever gets asked a question. A general-purpose language model that's read about how a German group consolidates a Japanese subsidiary is a different thing entirely from a platform that's spent 25 years encoding exactly how that works.
Hg backed Lucanet in 2022, as the company moved from a founder-run business to a management-run one and began the next phase of international expansion. The following year, Lucanet started replatforming its market-leading product into a SaaS platform, scaling its R&D function to roughly 350 people and opening a third Tech hub in Romania to do it. A mix of targeted M&A and organic development took the company from a single product to more than eight solutions. Hg's Catalyst ecosystem has also helped Lucanet move faster on specific AI builds like the Analyst Agent.
2. The Data Platform and semantic layer
Lucanet's CFO Solution Platform sits on its own Data Platform, a single source of truth that replaces the separate data warehouse that many finance and tax teams have to stitch together themselves.
Data flows from source systems through a medallion architecture, bronze, silver, gold, cleansed, enriched and aggregated at each stage, with 11 nines of durability (99.999999999%), about as reliable as technically possible. More than 400 ETL adapters connect it to ERP, accounting, CRM, HRIS and other third-party systems. A semantic layer sits between agents and the data, so users can query and analyse it in plain English.
3. Intelligence Core
Lucanet has built intelligence into the core of its platform. The Intelligence Core is an architectural layer that all agentic capabilities sit on top of, thereby inheriting a consistent set of capabilities to deliver trustworthy AI.
Large language models are probabilistic in nature, they are excellent at reasoning, interpreting and explaining. They're unreliable at maths. So, the platform uses LLMs for what they are good at, and deterministic, validated calculation engines where there is zero room for errors. These are the same calculation engines that power Lucanet's solutions. Every number an agent produces traces back to a validated calculation, not a probabilistic guess.
"90% accurate sounds impressive. After a ten-step agent workflow, the overall accuracy drops to only 35% due to compounding errors. Intelligence inside finance and tax must be trustworthy, traceable, and defensible in front of an auditor."
Kevin Smith, CTO, Lucanet
Why it's hard to copy
Lucanet is the custodian of its customers' most sensitive financial and tax data, so the cloud-native, multi-tenant SaaS platform was built from the ground up on a strong tenant isolation model. Every customer's data is strictly separated and processed in the geographic region of the customer's choice. Its agentic capabilities inherit that same isolation model rather than working around it.
Benedikt Joeris, Partner at Hg and Lucanet board member is clear on why this is important. "Bolting on AI without the proper system underneath might look good for a demo, but it's never going to be reliable or secure enough for work that really matters"
"Lucanet's agents run on top of financial and tax infrastructure that's been crafted and fine tuned over 25 years, so the customer gets all the governance and domain logic already built in. The context that is created in Lucanet is invaluable for a company’s finance organisation as a whole." he added.
Quality is measured through evaluations: known-good answers, a rubric domain experts can apply, run again every time a capability changes. Observability turns each agent's reasoning from a black box into a traceable record. Human-in-the-loop design lets teams choose how much they delegate, from reviewing every step to full autonomy on the routine work an agent has earned trust on.
What the first agents are already delivering
4–7 days → 1–2 days
Analyst Agent
Reporting cycle compressed from days of manual work to near-real-time analysis.
Days → tens of minutes
Modeler Agent
FP&A model builds reduced from days of manual work to tens of minutes.
Days → hours
Tagger Agent
XBRL tagging effort dramatically reduced.
Up to 5× faster
Emission Agent
GHG footprint calculation significantly accelerated.
Lucanet Lume: the front door
All of this shows up to customers as one thing: Lucanet Lume. Ask it a question in plain language, and it routes the task to the right specialist behind it: Tagger, Analyst, Close, Modeler, Emission, Report. Each is purpose-built for one job, and each carries the same governance and traceability as everything underneath.
A finance team doesn't need to know which agent does what. They ask, and the right one acts. The agent family is growing every quarter. Lume is built so that growth doesn't make the platform harder to use. Instead, customers just need to ask.
The views and opinions expressed in this document, including those attributed to named individuals, are those of the contributor(s) and should not be taken to represent the views or positions of Hg or its affiliates. Statements are provided for general informational and discussion purposes only and should not be construed as investment, legal, accounting or other professional advice. Statements contained in this document, including those about Lucanet, its products and the estimated benefits of its AI agents, are based on current expectations or estimates and information supplied by Lucanet, and are subject to a number of risks and uncertainties. Actual results, performance, prospects or opportunities could differ materially from those expressed or implied, past performance is not a reliable indicator of future results, and you should not place undue reliance on these statements. Efficiency figures are early estimates based on pilot use and will vary by customer.
About Lucanet is building trustworthy AI into the office of the CFO
Lucanet is the CFO Solution Platform built for modern finance leaders to automate processes including consolidation and financial planning, extended planning and analysis, disclosure management, ESG reporting, lease accounting, tax compliance and reporting, and banking and cash management. More than 6,000 companies around the world rely on our easy-to-use and out-of-the-box SaaS platform to help them lead with ease by managing their strategic and reporting needs with speed and accuracy.
The company is headquartered in Berlin with additional offices in Germany, Austria, Switzerland, the Netherlands, Belgium, Spain, France, Italy, the United Kingdom, China, Singapore, and the United States. Together with an international partner network, Lucanet’s professional service team and 900+ employees worldwide focus their passion and expertise on the performance and success of the CFO office.
1999
Founded
2022
Partnered with Hg
Germany
Country
Tax & Accounting
Category