Lumin Digital, a cloud-native digital banking provider, raised over $160 million 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 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,” Jeff Chambers, CEO of Lumin Digital, said. “We are grateful for the support of our investors who share our vision and commitment to transforming the digital banking experience.”
“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,” Kevin Sullivan, partner at Light Street Capital, said. “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,” Ankit Sud, partner at NewView Capital, said. “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,” Sanjay Ravi, managing director at Partners Group, said.
“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, said.
Velera, a 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,” Chuck Fagan, CEO of Velera and chairman of Lumin Digital’s board of directors, said. “That investment has exceeded expectations, and we are proud to welcome new growth partners.”
FT Partners served as the exclusive strategic and financial advisor to Lumin Digital on this transaction.
