Lumin Digital Raises $115 Million, Valuation Climbs To $1.6 Billion
By CU Today Staff —
SAN RAMON, Calif.—Lumin Digital said it has raised more than $115 million in new capital to accelerate product development and expand its cloud-based digital banking platform, including more than $70 million from client investors and an additional $45 million in growth equity led by Light Street Capital. The latest financing values the company at approximately $1.6 billion.
The company said the funding will support continued investment in artificial intelligence, payments, customer relationship management, lending and other platform enhancements. Lumin added it has continued to grow while improving margins and operational efficiency, citing an independent 451 Research study that found its platform delivers a 145% return on investment over five years and a payback period of less than 11 months.
"We've built Lumin around a simple idea: the financial institutions that depend on our platform should have a stake in it," said Jeff Chambers, founder and CEO of Lumin Digital. "Fifteen more clients made that commitment in this round, and Light Street doubled down on theirs. Together, that tells us something. The people who know this company best, our customers and our lead investor, believe in where we're taking it. This capital accelerates Lumin's platform expansion already underway, and we're doing it with a cap table built for the long term."
“Lumin Digital’s commitment to serving banks and credit unions is unwavering, fostering a client relationship that is truly unique among software vendors,” said Kevin Sullivan, partner at Light Street Capital. “We are proud to continue our support of Lumin, in partnership with Clients, to build the go-to cloud platform for financial institutions in the era of AI.”
The latest investment follows Lumin's $170-million growth equity raise completed in December 2024 and $75 million in client investment announced in March 2025. The company said its client-investor model, which dates to its founding in 2016, aligns financial institutions with the technology they use.
"We are investing in Lumin Digital because we've seen firsthand what the platform does for user growth and digital engagement,” said Dave Larson, CEO of Affinity Plus. “This is a company that has earned our trust, and investing was a natural extension of a relationship already built on shared outcomes."
Originally reported by CU Today.