Lumanu enhances offering with new integrations and expanded support for international users
OAKLAND, Calif.–(BUSINESS WIRE)–Lumanu, the company building the financial infrastructure for the future of work, announces today expanded support for international creators, influencers and freelancers as well as new integrations with Quickbooks and Zapier. The rise of remote opportunities and modern communication tools has allowed creators to make a living in new, more flexible ways all over the globe, with more than 300M individuals identifying themselves as creators globally.
Lumanu is now the only creator-focused payouts platform supporting international payouts, embedded financing, and integrations with accounting software. Businesses can use Lumanu to instantly pay creators they work with across 40+ countries, including the United States, Canada, Latin America, Europe, Australia and most of Asia. At an exchange rate that is 9x less expensive than bank wires or PayPal, Lumanu is providing cost savings to businesses and putting more cash in creator pockets. With Lumanu EarlyPay, an embedded financing feature in Lumanu, creators can also opt to get their earned income instantly without waiting on net payment terms.
“As online collaborations continue to expand beyond borders, transfer fees and international exchange rates can quickly add up, costing businesses in the creator economy much more than anticipated when they send payments to international agencies, creators, and freelancers,” said Tony Tran, co-founder and CEO of Lumanu.
Chief Operating Officer, Akshay Thakor (formerly VP at Turing and Uber), highlights the benefits of international payments for Lumanu’s business customers: “Leveraging an international pool of creative talent is now table stakes if businesses want to win. By using Lumanu, businesses with international relationships can deliver a first-rate payments experience to their creative partners while eliminating costly internal vendor management and compliance processes.”
“At Dime Beauty, we have a robust influencer marketing program. Paying our global roster of influencer talent with Lumanu was markedly easier and less expensive than doing so through Paypal or bank transfers,” said Scott Morris, customer and Financial Planner at Dime Beauty. “Not only did it simplify the payments process for our busy team and provide measurable cost savings, our creators are happy to be able to easily withdraw money in their own currency automatically.”
In addition, Lumanu has updated its payouts platform to support custom workflows built in Zapier, a no-code integrations hub, making it easier for businesses to streamline their payouts process and keep accounting and business systems up to date.
Lumanu also integrates directly with the most common accounting software, Quickbooks, allowing businesses both large and small to streamline marketing and finance efficiencies when working with 1099 vendors such as influencers and freelancers.
Since Lumanu’s $12M Series A by Origin Ventures in July 2021, Lumanu has grown annualized payment volume to nine-figures and SaaS plus Fintech revenues by 11x. For more information about Lumanu, visit www.Lumanu.com.
Lumanu is building the financial infrastructure for the future of work, starting with payments and financing in the creator economy. They help creators and businesses transact, move money, and unlock cashflow without dealing with vendor onboarding, tax compliance, and hefty foreign exchange fees. Lumanu is a venture funded startup that has raised $17M to date.
Lumanu’s partners include some of the top brands and digital agencies in the world, 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.