Lumin Digital, a cloud-native digital banking platform, has raised over $160 million in growth equity financing from prominent investors, including Light Street Capital, NewView Capital, and Partners Group.
Founded in 2016, Lumin Digital provides cutting-edge banking solutions for financial institutions. The company boasts over 50 clients and serves a user base of more than five million. Over the past year, Lumin achieved an impressive 60% revenue growth rate.
Jeff Chambers, CEO of Lumin Digital, expressed excitement about the funding:
“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.”
Lumin Digital‘s primary investor, the credit union service organization Velera, continues to play a pivotal role in the company’s success.
Chuck Fagan, CEO of Velera and chairman of Lumin Digital’s board, remarked:
“From the very beginning, Velera‘s board and management have embraced and invested in Lumin Digital‘s vision for revolutionizing the digital banking industry.”
The company plans to leverage the fresh funding to enhance its product suite, attract more financial institution clients, and scale its operations while maintaining a customer-centric approach.