Lumin Digital, a San Francisco primarily based cloud-native digital banking supplier, introduced it has raised over $160M in development fairness financing, led by Mild Road Capital, NewView Capital, and Companions Group, performing on behalf of its shoppers.
Lumin Digital plans to leverage the funding to speed up its strategic development initiatives, specializing in innovation and driving larger worth for monetary establishments, their members, and shareholders.
“It is a highly effective endorsement of Lumin Digital’s influence on the business and allows us to increase our product choices whereas preserving our tradition of delivering distinctive worth to our shoppers and their members,”
stated Jeff Chambers, CEO of Lumin Digital.
“We’re grateful for the assist of our traders who share our imaginative and prescient and dedication to reworking the digital banking expertise.”
Based in 2016, Lumin has persistently achieved its annual monetary targets, whereas additionally bettering gross margin, working efficiencies, and internet retention.
FT Companions served because the unique strategic and monetary advisor to Lumin Digital on this transaction.
Featured picture credit score: edited from freepik
