Lumin Digital has raised over $115 million in fresh capital at a $1.6 billion valuation, the San Ramon, California-based digital banking platform said on 15 July 2026. The financing combines a client-led round of more than $70 million with a $45 million growth equity financing led by Light Street Capital. The raise builds on Lumin Digital's $170 million growth equity round completed in December 2024 and $75 million of client investment announced in March 2025.
Fifteen additional clients participated in the latest round alongside Light Street Capital's continued investment, and Affinity Plus chief executive Dave Larson said the credit union was investing because it had "seen firsthand what the platform does for user growth and digital engagement".
CLIENT-LED COMPONENT REINFORCES ECOSYSTEM
Lumin said its client-investor model reflects a philosophy that the institutions best positioned to serve their members are those with a stake in the tools they use.
Founder and chief executive Jeff Chambers said: "Fifteen more clients made that commitment in this round, and Light Street doubled down on theirs."
Light Street Capital, which led the $45 million growth financing, is an existing investor; partner Kevin Sullivan said the firm was "proud to continue our support of Lumin".
AI AND PAYMENTS ROAD MAP
Lumin Digital said the proceeds will be used to accelerate advancements in artificial intelligence, payments, customer relationship management and lending across its unified digital banking platform. Founded in 2016, Lumin Digital operates a cloud-native, AI-accelerated platform for banks and credit unions.
The company said it has exceeded its financial goals while improving margins and operational efficiency, and cited a 451 Research study finding that clients see a 145% return on investment over five years.
FT Partners served as exclusive strategic and financial adviser to Lumin Digital on the transaction.