Lumin Digital raises capital to further accelerate its business growth and continue the Company’s momentum
Lumin Digital, a leading cloud-native digital banking provider, announced it has raised over $160M in growth equity financing, led by Light Street Capital, NewView Capital, and Partners Group, acting on behalf of its clients.
Lumin Digital plans to leverage the funding to accelerate its strategic growth initiatives, focusing on innovation and driving greater value for financial institutions, their members, and shareholders. This investment underscores the transformative power of digital banking platforms to modernize the industry and deliver always-on, customer-centric experiences.
“This is a powerful endorsement of Lumin Digital’s impact on the industry and enables us to expand our product offerings while preserving our culture of delivering exceptional value to our clients and their members,” said Jeff Chambers. “We are grateful for the support of our investors who share our vision and commitment to transforming the digital banking experience.”
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“Lumin Digital’s innovative platform, exceptional leadership, and commitment to delivering outstanding value to clients and their members are redefining the digital banking experience and have set the company apart as a true industry leader,” said Kevin Sullivan. “We are excited to support Lumin Digital’s growth.”
“Lumin Digital’s impressive traction and impactful approach to digital banking have positioned it as a true leader in the financial services industry,” said Ankit Sud, Partner at NewView Capital. “We look forward to partnering with Lumin Digital as the company continues to scale and deliver exceptional value to financial institutions and their members.”
“Lumin Digital’s cutting-edge, cloud-native platform is transforming how financial institutions engage with their members, setting a new standard for personalized, seamless digital experiences,” said Sanjay Ravi.
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“We are proud to partner with Lumin as the company continues to drive innovation and revolutionize the industry,” added Will Chen.
Velera, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, remains Lumin Digital’s primary investor.
“From the very beginning, Velera’s board and management have embraced and invested in Lumin Digital’s vision for revolutionizing the digital banking industry,” said Chuck Fagan. “That investment has exceeded expectations, and we are proud to welcome new growth partners.”
Founded in 2016, Lumin has continued to experience exceptional and intentional growth — repeatedly exceeding its annual financial goals while consistently improving gross margin, operating efficiencies, and net retention. Over the past year, Lumin achieved a revenue growth rate of over 60%. Lumin’s 10-year product and client expansion strategy stays true to its foundational building blocks — great employees, innovative products, exceptional service, and disciplined and predictable growth. With customer centricity at the center of Lumin’s core values, the company is dedicated to driving innovation forward for the success of its clients and their members.
FT Partners served as the exclusive strategic and financial advisor to Lumin Digital on this transaction.
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Source – prnewswire
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