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Lumin Digital Secures $160 Million in Growth Funding to Revolutionize Cloud-Digital Banking
Lumin Digital, a cloud-native digital banking provider in San Francisco, has raised over $160 million in growth equity financing, led by Light Street Capital, NewView Capital, and Partners Group. This funding will support Lumin Digital’s strategic growth initiatives, including accelerating innovation, enhancing value for clients, and expanding product offerings. CEO Jeff Chambers highlighted the funding as a testament to the company’s industry impact and commitment to transforming digital banking. Established in 2016, Lumin Digital has maintained robust growth, improving margins and operational efficiencies. FT Partners acted as the exclusive advisor for this funding round.
Revolutionizing European Logins: Trustly Unveils Cutting-Edge Biometric Technology
Trustly has launched Trustly ID, a biometric solution in Europe designed to enhance online banking and payment experiences. Utilizing Face ID and fingerprint recognition, it offers instant login and improved security by integrating biometric verification with KYC storage. Trustly ID significantly benefits sectors like gaming, enabling users to bypass traditional logins in solutions like Pay N Play®. Initially piloted in Finland, the broader rollout aims to set new standards in payment speed and security. Trustly’s Chief Product Officer, Daniel Hecker, calls it a “game-changer,” emphasizing its role in simplifying payments and enhancing user interaction with merchants and gaming platforms.
Agritech Innovator Arya.ag Secures $30M Debt Facility from HSBC, Backed by GuarantCo
Arya.ag, an agritech and lending platform, has secured a $30 million debt facility in partnership with HSBC and GuarantCo, marking GuarantCo’s first transaction in India’s agritech sector. The funding will help Arya.ag address agricultural challenges like inadequate storage and delayed financing by providing storage solutions close to farms, thus reducing post-harvest losses. Farmers can access loans within 30 minutes of depositing their produce. Co-founder Prasanna Rao emphasized that this partnership will enhance services, helping farmers avoid distress sales and achieve better returns. This collaboration is expected to significantly impact India’s agricultural landscape.
Chris Castro Leads Sustainability Initiatives at Climate First Bank: A New Era in Eco-Friendly Banking
Climate First Bank, established in 2020, has appointed Chris Castro as Executive Vice President and Chief Sustainability Officer, highlighting its commitment to sustainable banking. The bank specializes in financing solar panel installations, energy-efficient upgrades, and carbon-reducing infrastructure projects. Castro, a founding member with extensive experience in sustainability, previously held key positions at the U.S. Department of Energy and the City of Orlando. He expressed enthusiasm for leading the bank’s sustainability efforts. CEO Lex Ford emphasized Castro’s alignment with the bank’s mission to drive investments in clean energy. Climate First Bank aims to expand its impact on the environment and community.
