Lumi raises $15 million
Lumi Finance closed a $15 million financing round with participation from Harel Insurance , bringing its total funding to over $76 million to date.
According to Lumi, a SME lender, this is Harel’s very first Australian investment.
Launched in 2018, Lumi offers Australian SMEs business loans and lines of credit from $5,000 to $500,000 on flexible terms. Successful loan applications are fulfilled within two hours and carry maximum loan terms of 48 months.
There’s a decent chance Lumi will start providing small business insurance if history is any indication. For comparison, Bluevine, which offers commercial insurance from Next, is Lumi’s equivalent in the US.