A consortium of Wall Street giants including Bank of America, Morgan Stanley, UBS, and TD Bank Group have joined Sixth Street Growth in a $63 million Series C investment for Luma Financial Technologies, signaling strong institutional confidence in the structured products platform. The funding round highlights growing demand for sophisticated alternative investment tools as advisors seek to diversify client portfolios beyond traditional assets.
Luma’s cloud-based platform serves broker-dealers, RIAs, and private banks worldwide with a comprehensive suite for researching, pricing, and managing complex investments like structured notes and annuities. The system combines education modules with trade execution and post-trade analytics—addressing what CEO Tim Bonacci calls “the full lifecycle” of alternative investment management.
The fresh capital will fuel three strategic priorities: geographic expansion in key financial markets, accelerated product development for next-generation structured products, and enhanced global client support infrastructure. This comes as the structured products market balloons to $2.1 trillion globally, with annuities seeing record inflows amid volatile equity markets.
Platform Differentiators:
- Custom Structuring: Allows creation of bespoke products
- Institutional-Grade Tools: Democratized for retail advisors
- White-Label Capabilities: For enterprise clients
Notably, the participation of competing bulge-bracket banks underscores Luma’s neutrality in a space where institutions typically develop proprietary systems. The platform’s agnostic positioning has driven adoption across 500+ firms, with assets under administration growing 300% since its 2020 Series B.
As regulatory scrutiny increases on complex products, Luma’s educational components and transparency features position it as both a market enabler and compliance solution—a duality that likely appealed to its blue-chip investor base. The funding suggests major banks see third-party tech platforms as critical infrastructure for the next era of wealth management.