Lumin Digital, a leading cloud-native digital banking provider, announced today that it has raised over $160 million in growth equity financing. The financing was led by Light Street Capital, NewView Capital, and Partners Group, acting on behalf of its clients.
Lumin Digital plans to use the funding to accelerate its strategic growth initiatives, focusing on innovation and driving greater value for financial institutions, their members, and shareholders. This funding validates the power of digital banking platforms to modernize the industry and deliver always-on, customer-centric experiences.
Launched in 2016, Lumin has continued to experience exceptional and intentional growth, exceeding its annual financial goals while consistently improving gross margin, operating efficiencies, and net retention. And over the past year, Lumin achieved a revenue growth rate of over 60%.
FT Partners served as the exclusive strategic and financial advisor to Lumin Digital on this deal.
KEY QUOTES:
“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. We are grateful for the support of our investors who share our vision and commitment to transforming the digital banking experience.”
– Jeff Chambers, CEO of Lumin Digital
“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. We are excited to support Lumin Digital’s growth.”
– Kevin Sullivan, Partner at Light Street Capital
“Lumin Digital’s impressive traction and impactful approach to digital banking have positioned it as a true leader in the financial services industry. We look forward to partnering with Lumin Digital as the company continues to scale and deliver exceptional value to financial institutions and their members.”
– Ankit Sud, Partner at NewView Capital
“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.”
– Sanjay Ravi, Managing Director at Partners Group
“We are proud to partner with Lumin as the company continues to drive innovation and revolutionize the industry.”
– Will Chen, Managing Director at Partners Group
“From the very beginning, Velera’s board and management have embraced and invested in Lumin Digital’s vision for revolutionizing the digital banking industry. That investment has exceeded expectations, and we are proud to welcome new growth partners.”
– Chuck Fagan, CEO of Velera and chairman of Lumin Digital’s Board of Directors
