Why We Invested in Lumo

Welcome Niklas and Nishant to the Dynamo family!

Lumo is building a software platform that allows European shippers to efficiently audit, reconcile, and analyze their freight invoices. Starting with the German parcel market, Lumo ingests invoice data in various formats across a variety of carriers to help customers (shippers) streamline their associated financial operations. The long-term vision is to expand functionality so that Lumo becomes the single application for shippers to manage their entire freight spend including LTL and FTL.

Our investment was focused on three things:

1. An ambitious and complementary team with a move fast, get-stuff-done attitude. We are impressed with Niklas and Nishant’s ability to generate results which is the most important thing at the early stage
2. An attractive beachhead market helping B2C shippers audit and reconcile their parcel spend. Parcel spend management in Europe is an underserved market facing significant challenges from fragmented carrier networks across countries, non-standardized pricing, and diverse invoice formats across countries. Despite eCommerce parcel volumes projected to grow at 10% CAGR through 2027, existing solutions remain consulting-heavy and manual, creating an opportunity to address this complex problem by focusing on shippers with the resources to drive change
3. An attractive path to expand the product capability and associated market opportunity by providing freight spend management software for LTL and FTL across the European continent. The founders have an ambition and vision to expand across modalities and also overtime include capabilities to make claims, manage payments, and provide credit