Luma Raises $63 Million in Series C Funding to Propel Innovative Growth

Luma Raises $63 Million in Series C Funding to Propel Innovative Growth

Luma Financial Technologies, a leading provider of structured products and insurance solutions based in Cincinnati, Ohio, has successfully completed a significant US$63 million Series C funding round. This investment marks a pivotal moment in the company’s growth trajectory and aims to enhance its market presence.

Details of the Series C Funding Round

The recent funding round was spearheaded by Sixth Street Growth, the growth investing division of the global investment firm Sixth Street. Notable existing investors such as Bank of America, Morgan Stanley, UBS, and TD Bank Group also participated in this funding round.

Purpose of the Funding

The additional capital will be allocated towards several strategic initiatives:

  • Market Expansion: Luma aims to broaden its footprint in key markets.
  • Product Development: The funding will assist in enhancing and innovating their product offerings.
  • Client Service Enhancement: Strengthening global client service capabilities is a top priority.

Statements from Leadership

Tim Bonacci, the Chief Executive Officer of Luma Financial Technologies, expressed his enthusiasm regarding the funding: “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 have built.” He emphasized that the new capital will help accelerate growth while staying true to the principles that have led to Luma’s success.

Focus on Alternative Investments

As the demand for alternative investments continues to rise, Luma is committed to adapting to market shifts. The company focuses on:

  • Improving access to investment opportunities.
  • Enhancing system integration.
  • Delivering adviser-focused solutions.

Advisory Role

Broadhaven served as an adviser to Luma during this transaction, further solidifying the company’s strategic initiatives in the financial sector.

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

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