Cloud-based advice and client-engagement platform Lumiant has closed a seed-funding round totalling $3.5m, bringing its total capital raised to date to around $9m (£7.3m, €8.3m).
Funding came from Australian financial planning company Invest Blue and from US-based wealth management firm Savant Wealth.
Lumiant, which was founded in Sydney, also has an office in Chicago. It launched in the US in May 2022. The new capital will be used to support Lumiant’s US expansion, as well as platform and mobile enhancements.
Following the new round of funding, Lumiant has made some hires, including the appointment of Phil Pilgrim as its head of corporate. Pilgrim has more than 20 years’ financial-services experience and will be responsible for driving growth in Australia and New Zealand.
The firm has also expanded its engineering and mobile-development teams.
Santiago Burridge, Lumiant founder and global chief executive, said: “By meeting clients where they are – on their mobile devices – we can enhance their ability to track progress towards their goals.”
More than 60 financial firms use Lumiant’s services and in 2022, the company reported an increase of around 44% in end clients on its platform.
