Finnish fintech startup NoCFO has launched an AI agent called Luca that operates like a CFO and can be conversed with over the phone, among other ways. Luca's developer, NoCFO CEO Teemu Karuluoto, says the AI CFO completely replaces the need for an accountant, for example.
Helsinki, 28th May 2026– Finnish fintech startup NoCFO has launched an AI agent called Luca that is set to transform the entire financial management industry, and serves as a concrete example of how generative AI is replacing humans across multiple professions. NoCFO's Luca tool is named after Luca Pacioli, the inventor of double-entry bookkeeping.
Luca works like a human CFO that you can call or message for help. It can also be assigned various tasks, such as creating and sending invoices.
"We've found that entrepreneurs want to quickly get information from, say, their accountant by calling or emailing them. With Luca, you can have a conversation over the phone or in chat and get immediate, accurate information about the company's bookkeeping and financial situation. Generally speaking, it would be very important for entrepreneurs to ask more actively about their company's financial situation, so they have a better understanding of how the business is truly performing," says NoCFO CEO and Luca developer Teemu Karuluoto.
According to Karuluoto, Luca is more than an accountant or a mere AI agent. It has been specifically trained on financial management guidelines and business legislation, which means the tool can find things better and more efficiently than a human.
"Luca has been developed as a comprehensive financial management expert that can act, for example, like a CFO: providing data-driven recommendations for managing company finances. People often say that accountants will still be needed in expert roles, but the fact is that as AI develops, it can at times perform even better than a human expert. AI is capable of processing vast amounts of data and making knowledge-based interpretations that a human might overlook," Karuluoto continues.
Karuluoto predicts that humans will still be needed in financial management roles in the future, but the majority of current jobs — particularly in the small business sector — will disappear.
"An increasing number of companies will be able to handle financial management tasks with AI, which will inevitably lead to a dramatic reduction in financial management jobs. This concerns above all outsourced bookkeeping, i.e. accountants serving small businesses. A large share of these accountants' jobs may already be gone within five years," Karuluoto estimates.
According to Karuluoto, Luca is the first major step toward comprehensive financial management automation — and as such, it also opens doors for NoCFO to conquer the international market.
"Next, we're taking it to the German market, where SME financial management still relies heavily on outsourced bookkeeping and outdated desktop software. NoCFO brings Germany a way for entrepreneurs to handle all their financial management on their phone, with Luca acting as a pocket AI CFO available around the clock," he concludes.
Contact:
Teemu Karuluoto
+358 44 5733333
NoCFO:
NoCFO is a Finnish fintech startup that has developed AI-powered financial management software for small businesses. Launched in 2023, the NoCFO software has over 4,000 customers.