Luma Financial Technologies Secures $63M Funding to Accelerate Global Expansion

Luma Financial Technologies Secures $63M Funding to Accelerate Global Expansion

Luma Financial Technologies, a leader in the FinTech sector focusing on structured products and insurance solutions, has successfully raised $63 million in a Series C funding round. This significant investment round was spearheaded by Sixth Street Growth and saw participation from top financial institutions, including Bank of America, Morgan Stanley, UBS, and TD Bank Group, as reported by InsurTech Insights.

About Luma Financial Technologies

Founded in 2018, Luma Financial Technologies offers an innovative technology platform that aids buy-side financial teams in the research, purchase, and management of alternative investments and annuities. The platform is designed to:

  • Streamline complex investment workflows
  • Enhance access to financial products for advisers and institutions

Plans for Expansion

The latest funding will be directed towards expanding Luma’s reach into new markets and accelerating innovation. Key plans include:

  1. Introducing life insurance solutions to the platform
  2. Reinforcing Luma’s vision of becoming a comprehensive destination for structured financial products and insurance options

Growth and Client-Centric Innovation

Luma has witnessed remarkable growth as financial advisers and institutions increasingly demand efficient and transparent access to diversified investment products. The company attributes this momentum to its unwavering commitment to client-focused innovation.

“This investment is a testament to the confidence our partners have in the value Luma brings to the market and the strength of the foundation we’ve built,” said Tim Bonacci, CEO of Luma Financial Technologies. “With this new capital, we will deepen our presence in key markets and continue to innovate while staying true to the principles that have driven our success.”

Partnership with Sixth Street Growth

Michael McGinn, partner and co-head of Sixth Street Growth, expressed his excitement about the partnership, stating, “We believe an objective, end-to-end platform like the one Luma has built provides critical infrastructure to support the rapid adoption of new products in the broader wealth management channel. We are eager to support Luma’s vision of broadening its product offerings and expanding its global reach.”

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For more information on Luma Financial Technologies and their innovative solutions, visit their official website at Luma Financial Technologies.

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