Lumin Digital gets $70 million from bank, credit union users
By Melinda Lucy CloseText About Melinda mailto melinda.lucy@americanbanker.com linkedin melinda-huspen Published July 17, 2026, 6:30 a.m. EDT 3 Min Read
On Wednesday, Lumin Digital — a provider of digital banking technology serving credit unions along with small and mid-tier banks — announced that it secured $70 million in fresh investment directly from its own bank and credit union customers.
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This latest injection comes after a $45 million growth equity fundraising round for Lumin, which was led by Light Street Capital. That firm originally became an investor in Lumin during the company’s $160 million Series A growth equity round in late 2024. With this new capital, the total amount raised now stands at $115 million, pushing the digital banking firm’s valuation to $1.6 billion.
A study commissioned by Lumin Digital and carried out by 451 Research, a division of S&P Global Market Intelligence, revealed that for an average client bank or credit union using Lumin’s platform, the composite total financial impact — which accounts for the software’s business value minus total ownership costs — reached $12.8 million over five years. This translated to a discounted return on investment of 145%.
“Every participant reported that Lumin Digital’s platform improved user engagement and digital adoption due to a more user-centric experience, marketing enablement and interoperability through its partner ecosystem,” the report noted, pointing to a 15% decline in customer churn and a 95% drop in system downtime.
The new capital provided by bank and credit union clients underscores a wider industry movement where financial institutions are looking to deploy artificial intelligence through their existing technology vendors. Lumin will channel the funding toward advancing its previously announced initiatives, which include developing digital loan origination tools and integrating artificial intelligence into its platform.
