Luma Financial Technologies, a provider of structured products and insurance solutions based in Cincinnati, Ohio, has announced the completion of a US$63 million Series C funding round.

The investment was led by Sixth Street Growth, the growth investing division of global investment firm Sixth Street. Existing investors Bank of America, Morgan Stanley, UBS, and TD Bank Group also took part in the round.

The additional funding will support Luma’s plans to expand its presence in key markets, invest further in product development, and strengthen its global client service capabilities.

The company stated that the new capital will help sustain its current growth while maintaining the strategic direction that has shaped its progress so far.

As part of the investment, Alex Goodman, Principal at Sixth Street Growth, will join Luma’s Board of Directors.

“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 have built,”

said Tim Bonacci, Chief Executive Officer of Luma Financial Technologies.

“We have 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.”

With demand for alternative investments continuing to rise, Luma aims to support firms in adapting to market shifts through improved access, system integration, and adviser focused solutions.

Broadhaven acted as Luma’s adviser for the transaction.

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