Luma Financial Technologies, a global insurtech company in structured products and insurance solutions, has raised $63mn in Series C funding led by Sixth Street Growth, the growth investing business of leading global investment firm Sixth Street.
Existing strategic investors including Bank of America, Morgan Stanley, UBS, and TD Bank Group participated in the round.
Launched in 2018, Luma provides a buy-side platform for structured products and insurance solutions. It enables financial professionals to research, acquire, and manage alternative investments and annuities.
The company plans to expand its platform to include access to life insurance.
The additional capital will enable the acceleration of Luma’s expansion across key markets, deepen its investment in product innovation, and further enhance its global client support capabilities.
Already on a strong growth trajectory, the funding will allow Luma to scale its impact while preserving the leadership and strategic direction that have guided its success. Additionally, Alex Goodman, Principal at Sixth Street Growth, will join the firm’s Board of Directors.
Tim Bonacci, CEO of Luma, stated that the funding reflects investor confidence in the company’s strategy and market position. He noted that Luma’s growth has resulted from a focus on client needs and that the new funding will help the company strengthen its position in key markets and support continued product development.
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
Tim Bonacci, CEO of Luma Financial Technologies
“We’ve experienced significant growth by staying focused on delivering value to our clients, and this new capital will accelerate that trajectory by deepening our presence in key markets and continuing to innovate — all while staying true to the principles that have driven our success,” said Tim Bonacci.
Michael McGinn, Partner at Sixth Street and Co-Head of Sixth Street Growth, said that Luma’s platform addresses a growing demand for infrastructure to support new investment products in wealth management.
We believe an objective, end-to-end platform, like the one Luma has built, provides a critical piece of infrastructure to support the rapid adoption of new products in the broader wealth management channel.
Michael McGinn, Partner at Sixth Street and Co-Head of Sixth Street Growth
He added that Sixth Street supports Luma’s plans to expand its offerings and international footprint.
As demand for alternatives continues to grow, Luma remains at the forefront of empowering firms with the tools to adapt and excel.
Building on its established momentum, this next phase of growth will accelerate Luma’s ability to drive industry-wide transformation through greater accessibility, seamless integration, and a continued commitment to advisor-centric innovation. Broadhaven served as Luma’s advisor on the transaction.
Luma has pioneered a cutting-edge fintech software platform that has been adopted by broker/dealer firms, RIA offices, and private banks around the world.
By using Luma, institutional and retail investors have a fully customizable, independent, buy-side technology platform that helps financial teams more efficiently learn about, research, purchase, and manage alternative investments as well as annuities.
Luma gives these users the ability to oversee the full, end-to-end process lifecycle by offering a suite of solutions. These include education resources and training materials; creation and pricing of custom structured products; electronic order entry; and post-trade management.
By prioritizing transparency and ease of use, Luma is a multi-issuer, multi-wholesaler, and multi-product option that advisors can utilize to best meet their clients’ specific portfolio needs.
Headquartered in Cincinnati, OH, Luma also has offices in New York, NY, Miami, FL, Zurich, Switzerland, and Lisbon, Portugal.
