Lumanu, the platform that helps creators grow, collaborate and become more successful, today announces the launch of Lumanu for Business, a new payments and financing solution. Designed to meet the specific needs of creative businesses, Lumanu for Business helps creative agencies, talent managers, brands and influencer agencies pay and get paid faster. Its core offering centers around customer pain points: making payments, receiving payments and access to working capital.
“Busy creative businesses are tasked with managing internal and external stakeholders, pulling together campaigns, managing timelines and producing incredible creative. They don’t have time to chase down payments or worry about cash flow or messy vendor onboarding and tax paperwork,” said Tony Tran, co-founder and CEO of Lumanu. “Payments is actually much more than moving money from point A to point B. A lot of the pain comes before or after money gets moved. The pain is in collecting W9s, issuing 1099s, managing name and address changes, back and forth about payment timing with payees… we solve all of that.”
Akshay Thakor recently joined Lumanu in the new role of Chief Operating Officer to spearhead the rollout of Lumanu for Business, bringing his expertise in operational growth, execution and leadership. Previously, Thakor was SVP of Operations at Turing, which was named one of Fast Company’s “Most Innovative Companies in 2021,” and VP of Business Operations at Postmates Inc., where he was an early employee instrumental in building and leading multiple business units that fueled the company’s growth and ultimate acquisition by Uber.
“I am excited to be joining the Lumanu organization and empower the creator community with the necessary tools to continue championing creativity and thrive on their own terms,” added Thakor. “I look forward to applying my commitment to operational excellence to ensure that Lumanu for Business becomes an indispensable tool, saving talent managers, agencies and other creative businesses valuable time and money while easing the burden many face surrounding making and collecting payments and accessing working capital.”
Lumanu for Business has a number of benefits that meet the unique needs of creative businesses, including:
- Payments made simple: Users of Lumanu for Business can easily send invoices and accept payments from any company or individual with zero processing fees, save time by automatically splitting received payments with freelancers and other vendors, and pay freelancers with same-day ACH or EarlyPay for even faster payments.
- Instantly access working capital: With Lumanu EarlyPay, businesses can skip chasing payments, eliminate the hassle of bill collections and get instant cash based on work completed, not a risky credit line.
- Time to focus on creative vs. administration: Lumanu for Business eliminates manual tracking of invoices or payment statuses, automatically tracks all incoming and outgoing payments in one simple dashboard, delivers payment status at a glance, and easily exports data into existing accounting systems.
The Lumanu platform has 40,000 users and has experienced >30% month-over-month growth in total payment volume since Q1 2021. One of the platform’s most popular features is EarlyPay, which enables creators and businesses to instantly get paid on any invoice for a small fee.
For more information about Lumanu, visit www.Lumanu.com
About Lumanu
Lumanu is building the financial infrastructure for the creator economy. They help creators and creative businesses like influencers, freelancers, agencies, and talent managers collect payments, payout to vendors/partners, and get instant working capital. Lumanu is a venture funded startup that has raised $18M to date.
Lumanu’s partners include some of the top brands, digital and media agencies as well as tens of thousands of individual creators. The company has been acknowledged as one of top 10 most innovative social media companies of 2022 by Fast Company and one of 14 transformational creator economy startups of 2022 by Business Insider.
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