Luma Raises $63M in Series C Funding to Boost Insurance Solutions

Luma, a company specializing in structured products and insurance solutions, has successfully concluded a Series C funding round, raising $63 million.

The funding round was led by Sixth Street Growth, and prominently supported by major financial institutions like Bank of America, Morgan Stanley, UBS, and TD Bank Group. This capital injection will expedite Luma’s expansion within key markets, enhance their product development, and bolster global client support services. Importantly, in November 2024, Luma ventured into the life insurance domain, introducing the first platform that offers an integrated solution for life insurance and annuities.

This strategic move positions Luma as a pivotal player in the life insurance landscape, promising to streamline processes and offer comprehensive solutions to clients. This fundraising rounds underscores the confidence investors have in Luma’s innovative approach and solid market positioning.