Lumin Digital Clients Invest Over $75M in a Vote of Confidence

SAN RAMON, Calif., March 25, 2025 /PRNewswire/ -- Lumin Digital, a leading cloud-native digital banking provider, today announced that clients have invested over $75 million into the business, highlighting a dedication to partnership in which clients have the ability to participate in the company's success. The announcement comes shortly after Lumin Digital's $170M growth equity round in December 2024, led by Light Street Capital, NewView Capital, and Partners Group. This brings Lumin Digital's aggregate capital raised to over $245 million, marking a significant milestone as the business continues to demonstrate strong growth and with the balance sheet needed to invest in its long-term product roadmap. 

"Lumin Digital was built in close partnership with our clients, who have been central to every major milestone in our journey," said Jeff Chambers, CEO of Lumin Digital. "This next chapter reflects the strength of those relationships and our belief that value is created through disciplined execution, cultural alignment, and a shared long-term vision. By welcoming our client community as investors, we're deepening the alignment that has always defined Lumin and ensuring our future is built alongside those we serve."

Lumin Digital is excited to welcome over 20 new partners from its client community who, through their investment, have made a vote of confidence in the company's category leadership and strategic vision. Five investors, BCU, Redwood Credit Union, Wings Credit Union, Consumers Credit Union, and Summit Credit Union, will serve on a newly established Member Advisory Committee, providing strategic guidance and representing the collective voice of Lumin Digital's client base.

"At BCU, our mission has always been to empower our members to discover financial freedom, and our long-standing partnership with Lumin Digital has been instrumental in advancing this mission," said Mike Valentine, President and CEO of BCU. "Investing in Lumin through this opportunity reflects our deep confidence in their innovative digital banking solutions and our shared commitment to service excellence. We are proud to join a community of forward-thinking investors dedicated to fostering innovation and look forward to supporting Lumin's continued growth and success."

"Redwood Credit Union is committed to serving our members and strengthening our community through innovative financial solutions," said Brett Martinez, President and CEO of Redwood Credit Union. "Investing in Lumin Digital aligns perfectly with these values, as it allows us to support a partner dedicated to advancing digital banking services that benefit our members. We are proud to join a community of mindful investors who share our commitment to service excellence and innovation, and we look forward to contributing to Lumin's continued growth and success."

As a part of this recapitalization, Velera, Lumin Digital's early strategic investor, has sold roughly $175 million of its stake in the business. This move delivers a meaningful return to Velera and its member-owners while ensuring that Lumin Digital remains financially strong, independent, and focused on long-term value creation. With the completion of this transaction, Lumin Digital's updated capitalization table represents an alignment between clients, growth equity partners, and Velera that positions the company for continued success in digital banking innovation.

"Velera has always believed in Lumin Digital's ability to transform digital banking, which is why we became its founding investor," said Chuck Fagan, CEO of Velera and chairman of Lumin Digital's Board of Directors. "Over the past eight years, we've supported Lumin Digital's growth, ensuring it had the independence and agility needed to thrive. This secondary sale is an important step in expanding and deepening alignment between Lumin Digital and its customers, ensuring they have a stake in its continued success. We are excited to see its growth accelerate with the support of its financial institution partners."

"Velera was an early supporter of Lumin Digital and, in 2016, provided the capital needed to build a market-leading platform without the typical pressures of early-stage venture funding," Chambers continued. "Their trust and patience allowed us to prioritize product excellence, customer success, and long-term value creation. They were the right investor at the right time, and we're pleased to generate a meaningful return for them as a part of this transaction."

By welcoming its valued client community to participate as investors, Lumin Digital further demonstrates its unique client-centered approach and cements its category leadership in digital banking — providing a solid foundation for future innovation, expansion, and long-term client success.

FT Partners served as the exclusive strategic and financial advisor to Lumin Digital on this transaction.

About Lumin Digital
Lumin Digital is the leading, future-ready digital banking solution powering remarkable growth for financial institutions across the United States. Combining innovation, data, and speed, Lumin's disruption-proof platform was born in the cloud to stay ahead of the evolving expectations of retail and business banking users. With Lumin Digital's unique approach, our clients innovate and scale at their own pace, optimize digital banking ROI, and create a strong digital relationship with their customers. Lumin has received top marks from clients on the G2 Marketplace for digital banking software. For more information, visit lumindigital.com.

About Velera
Velera, formerly PSCU/Co-op Solutions, is the nation's premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers.

About FT Partners
Financial Technology Partners' U.S. Investment Banking business is conducted through FTP Securities LLC, a member of FINRA and SIPC. FTP Securities LLC is a FINRA registered broker dealer (www.finra.org) and member of SIPC (www.sipc.org). FTP Securities LLC does not offer or sell securities to, or carry accounts for, retail customers. FTP Securities LLC does not make a market in any security. These registrations and memberships in no way imply that FINRA or SIPC have endorsed any of the entities, products, or services discussed herein.

SOURCE Lumin Digital