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Digital banking platform Lumin Digital, established in 2016, has announced a successful funding round of $60 million, reflecting strong investor confidence in its innovative approach to digital banking. The platform serves over 50 clients and boasts a user base exceeding five million, with a revenue growth rate surpassing 60% over the past year.
Jeff Chambers, CEO of Lumin Digital, expressed his enthusiasm for the milestone:
“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.”
The company’s primary investor, Velera, a credit union service organization, continues to play a pivotal role in Lumin Digital’s success.
Chuck Fagan, CEO of Velera and chairman of Lumin Digital’s board of directors, highlighted the partnership’s alignment with a shared vision:
“From the very beginning, Velera’s board and management have embraced and invested in Lumin Digital’s vision for revolutionizing the digital banking industry.”
Lumin Digital plans to leverage the funding to enhance its product offerings and further innovate within the digital banking sector, reinforcing its commitment to delivering cutting-edge solutions to its growing clientele.
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