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Lumin Digital Scores $115M in Client-Led Funding
Lumin Digital raised $70M from credit union clients and $45M from Light Street Capital, hitting a $1.6B valuation. The round signals growing appetite for digital banking tools among community lenders.
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Lumin Digital, a cloud-based platform for banks and credit unions, raised more than $115 million in fresh capital, the company said. The round combined more than $70 million in investments from existing clients with a $45 million growth equity financing led by Light Street Capital. The new money values the San Ramon, California-based company at $1.6 billion.
The client participation is unusual – most venture rounds draw from institutional investors alone. Lumin said the support from its own customers signals confidence in its platform and long-term growth plans. The company's software helps community lenders manage deposits, loans, and account growth, a sector that has been moving away from legacy core processors.