Lumin Digital Secures Over $160 Million in Strategic Growth Funding for Enhanced Digital Banking Solutions

Lumin Digital Secures Over $160 Million in Growth Funding

Lumin Digital, a prominent provider of cloud-native digital banking solutions, has announced that it has successfully raised more than $160 million in growth equity financing. This funding round was led by notable investors including Light Street Capital, NewView Capital, and Partners Group, all acting on behalf of their clients. The capital infusion aims to accelerate Lumin Digital's strategic initiatives, particularly in innovation, to enhance value for financial institutions, their members, and shareholders.

Jeff Chambers, the CEO of Lumin Digital, expressed appreciation for the backing from the investors. He stated, "This funding serves as a powerful endorsement of our impact on the digital banking industry. It will enable us to expand our product offerings while maintaining our commitment to delivering exceptional value to our clients and their members."

The investment reflects the significant potential of digital banking platforms to transform the industry by providing continuously available, customer-oriented experiences. The partners involved in this funding round have highlighted Lumin Digital's innovative approach and their commitment to redefining how digital banking services are delivered.

Kevin Sullivan, a Partner at Light Street Capital, noted, "Lumin Digital’s innovative platform and exceptional leadership position the company as a leader in digital banking. We are excited to be part of their growth journey."

Similarly, Ankit Sud, a Partner at NewView Capital, remarked on Lumin's impressive growth trajectory and transformative approach in the financial services sector. "The firm has established itself as a leader in the industry, and it's a pleasure to partner with them as they continue to scale operations and enhance the value offered to financial institutions and their members."

The company has seen remarkable growth since its inception in 2016, consistently surpassing its annual financial projections and achieving a revenue growth rate exceeding 60% in the past year alone. The strategy for building upon its 10-year plan focuses on core elements including employee excellence, innovative product development, outstanding service, and sustainable growth practices.

As Lumin continues to expand its client base and product offerings, the emphasis remains on creating personalized and seamless digital experiences for users. The firm's commitment to advancing its digital banking solutions is underscored by the partnership with Velera, which remains its main investor and supporter.

Chuck Fagan, CEO of Velera and board chairman of Lumin Digital, stated, "From the beginning, Velera's leadership has embraced the vision of transforming the digital banking landscape, and our investment has yielded impressive results. We are thrilled to welcome new partners to our mission."

Lumin Digital's approach combines innovation with responsiveness to the changing expectations of retail and business banking customers. The company's unique platform is designed to help financial institutions optimize their digital banking return on investment and build stronger relationships with their customers.

FT Partners served as the exclusive financial and strategic advisor to Lumin Digital during this funding transaction, marking a significant milestone in the company’s journey towards redefining digital banking across the nation.

As Lumin Digital moves forward with its expansion plans, the focus will remain on leveraging technology and innovation to enhance customer interactions and service delivery for financial institutions across the United States. With a strong foundation, commitment to exceptional service, and a vision for the future, Lumin Digital is poised to reshape the landscape of digital banking for years to come.