How Lumi saved “material time” for its finance team with Cape

Phoebe Fordham
March 7, 2023

The recent announcement of our real-time reporting layer, Fractal, in Fintech Finance saw Yanir Yakutiel, the Founder and CEO of small-business loan provider, Lumi, sing the praises of Cape’s capabilities, from expense policy enablement to multi-card distribution and spend controls.

What does Lumi do?

Lumi breaks down the barriers to entry for small businesses seeking loans. Treating founders and executives as owners and visionaries rather than simple numbers on the board. They do this by creating bespoke lending plans underpinned by Lumi’s values of transparency, responsibility, and customer service. Like Cape, they forgo the hidden fees and tedious applications that are otherwise typical of their industry and instead provide streamlined and tailored access to their services.

Yanir has spearheaded Lumi’s growth and development from conception to today, noting that the inspiration and motivation behind Lumi came from experiencing “firsthand how lack of capital can hinder the growth of a business and limit the entrepreneurial potential of small business owners.”

Why did Lumi choose Cape?

Three years on, Yanir and his finance department were trying to juggle Lumi’s exponential growth alongside the strain of daily and ever-increasing customer transactions, admitting that “our finance team didn’t have the bandwidth to monitor every transaction every single day, which meant we consolidated cards to only a few critical team members and had to rely on everyone else to use their own funds to make business purchases.”

After using Cape, Lumi regained control of time and spending. Through Cape’s expense management dashboard that gives a holistic view of company-wide spending alongside our multi-card capability, Yanir was able to empower in-policy spending and take back hours of admin. “Cape’s platform reinforces our expense policy with distributed corporate cards, which block purchases that aren’t within a pre-approved spending limit or merchant.”

Finance automation at its finest

“By centralising, automating and streamlining spend management, Cape immediately saved material time for our finance team.” 

Effective spend management doesn't end with automated controls and budgets, a sense of trust and visibility are also vital components to financial success. Cape enables this full spectrum of factors, which Yanir concludes is due to the “transparency baked into the UI… It really helps reinforce a prudent expense culture with all employees accessing a centralised insights dashboard that ranks spending behaviour against peers.”

Want to save time and money with Cape like Lumi? Get started here.

Phoebe Fordham
March 7, 2023