Within only six months, LuckaBox built the largest platform of truly affordable on-demand delivery services in Switzerland.
Co-founders, Aike Festini and Maite Mihm
Name: LuckaBox Logistics AG
Location: Winterthur, Switzerland
Website: https://www.luckabox.ch
Product/Service Offering: last mile on-demand delivery platform
Co-founder Interviewed: Aike Festini
Other Key Management Team Members: Maite Mihm, COO & Co-Founder; Philipp Schwager, CTO; Kevin Fox, CFO; Philipp Schmidt, Sales & Biz Dev; Andrin Heusser, Software Developer; Raffael Schmidt, Senior Software Developer; Nadia Baumgartner, Marketing.
This article is part of our Women Entrepreneurs Spotlight Series featuring female entrepreneurs and their companies. We hope these founders’ interviews will inspire and motivate you as you undertake your own entrepreneurial journey.
Tell us a little about yourself with a focus on what motivates you?
I had a pretty steep career in the corporate world. The more I was promoted, the more everything turned into games and politics. I started longing for something meaningful and for a sense of purpose. During my EMBA studies at IMD Lausanne, it became clear that I needed to start a company. That is when the seed of LuckaBox was born.
When did you establish your company and where did the idea originate?
We founded the company in September 2017; however, the idea originally came about in June 2016. Maite, my co-founder, moved from Germany to Switzerland. She was seriously fed up with how much hassle it is to package and ship things you just sold on platforms like eBay. It was a real bummer.
So we built an app with which you simply took a picture of the item you want to ship, tell us when we can pick it up (as is) and where to ship it to. We would send a courier to pick up the item; then, package and ship it anywhere in the world. We still love the idea up to this day because it really solves a problem.
In our first pilot we realized unit economics and the lack of user’s willingness to pay would kill this business model. Hence, we pivoted to connecting e-retailers, shoppers and independent carriers via a streamlined and flexible shared platform. Our B2B platform enables e-retailers to offer their customers express or time-window deliveries, which is a service more and more consumers demand.
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What need or needs does your company seek to fill for its customers?
LuckaBox offers flexible on-demand value-added services, which is a strong differentiator for our customers. This gives them the competitive advantage they need.
What is the one thing that sets your company apart from its competitors?
Within only six months, LuckaBox built the largest platform of truly affordable on-demand delivery services in Switzerland.
What was the biggest challenge you faced while getting your company up and running, and how did you overcome it?
The biggest challenge we faced was when two members of the original LuckaBox team lost faith and motivation during the first signs of a struggle. It slowed us down quite a bit; however, we all agreed that they would still be a part of the team. They are not in a founder’s role anymore, which worked out well for all of us.
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Are there resources you have utilized that other founders might find compelling or useful?
I probably have read every book on startups there is. The single most important resource though has always been my network. I now have a circle of founders, investors and serial entrepreneurs etc. I can turn to with anything when I have a question or am stuck.
What steps have you taken to secure funding for your company and what, if anything, would you do differently if you had to start over?
First, I reached out to my network, family, friends, etc. Then I started to use pitching opportunities where it seemed to make sense. Some homework and thorough investigation before you go pitch might save you important time and nerves. “Raise smarter not harder” should be the approach.
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Have there been any questions you have had as an entrepreneur of a fledgling startup that you had a particularly hard time finding the answers to?
We face new questions every day. The trick is to live them and to trust the process. The answers will eventually show.
What challenges, if any, are you grappling with?
The most interesting challenge we are currently facing is to build a strong, inspired, motivated team that goes the extra mile for each other and for the business. It is about intuition but it is also about bad decisions.
What is the most helpful tip or “hack” you’ve ever learned, stumbled across, or been given?
Love the highs, wash off the lows, and learn to enjoy the ride!
Is there anything else you would like to share about your company?
Luckabox is a member of the 2018 Kickstart Accelerator program! We are quite a fun bunch. Make sure you stop by for coffee if you are in the neighborhood.
Are you familiar with other Women-led startups? If so, we would like to hear from you. Tell us about them in the comments below!
Sandra Sloan
Sandra has previous supply chain and business operations experience which she is leveraging as an author with FundingSage focused on spotlighting entrepreneurs and their startup efforts.
